Mercury Systems Inc $MRCY Shares Sold by JANA Partners Management LP

JANA Partners Management LP lessened its stake in Mercury Systems Inc (NASDAQ:MRCY) by 17.2% in the 1st quarter, HoldingsChannel reports. The fund owned 4,107,424 shares of the technology company’s stock after selling 852,057 shares during the quarter. Mercury Systems accounts for about 18.0% of JANA Partners Management LP’s holdings, making the stock its biggest holding. JANA Partners Management LP owned about 0.07% of Mercury Systems worth $299,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC bought a new stake in Mercury Systems during the 1st quarter worth about $755,000. Goldman Sachs Group Inc. boosted its position in shares of Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock worth $36,861,000 after purchasing an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Mercury Systems by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company’s stock valued at $6,878,000 after acquiring an additional 18,916 shares during the period. Jane Street Group LLC grew its position in shares of Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company’s stock valued at $2,188,000 after purchasing an additional 31,337 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Mercury Systems by 30.3% during the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company’s stock worth $6,731,000 after acquiring an additional 29,057 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MRCY shares. Canaccord Genuity Group increased their price objective on Mercury Systems from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, July 13th. The Goldman Sachs Group increased their target price on Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a report on Friday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Stock Performance

Shares of MRCY stock opened at $97.10 on Monday. The stock’s fifty day simple moving average is $108.47 and its 200 day simple moving average is $94.08. Mercury Systems Inc has a twelve month low of $50.13 and a twelve month high of $128.45. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $5.83 billion, a P/E ratio of -404.58 and a beta of 0.95.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. The business had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.06 EPS. As a group, sell-side analysts predict that Mercury Systems Inc will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Orlando D. Carvalho sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the transaction, the director directly owned 52,448 shares of the company’s stock, valued at $4,686,753.28. The trade was a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven Ratner sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total value of $184,920.00. Following the completion of the transaction, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. This trade represents a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,250 shares of company stock valued at $1,733,220 over the last ninety days. 1.40% of the stock is owned by company insiders.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.