Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 49,090 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 49,090 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total value of $4,373,919.00. Following the sale, the chief executive officer directly owned 361,822 shares in the company, valued at $32,238,340.20. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mercury Systems Trading Up 0.8%

Shares of NASDAQ MRCY traded up $0.71 during mid-day trading on Thursday, hitting $90.47. 436,148 shares of the company traded hands, compared to its average volume of 680,573. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 1 year low of $65.04 and a 1 year high of $128.45. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -180.94 and a beta of 0.95. The business has a 50 day moving average of $106.00 and a two-hundred day moving average of $94.94.

Mercury Systems (NASDAQ:MRCY) last issued its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analysts’ expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. On average, sell-side analysts anticipate that Mercury Systems Inc will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercury Systems

A number of large investors have recently made changes to their positions in MRCY. Osaic Holdings Inc. lifted its position in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new position in Mercury Systems during the fourth quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems during the fourth quarter valued at approximately $37,000. Public Employees Retirement System of Ohio acquired a new position in Mercury Systems in the 2nd quarter valued at approximately $43,000. Finally, Federated Hermes Inc. acquired a new position in Mercury Systems in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MRCY shares. The Goldman Sachs Group lifted their target price on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Truist Financial raised their price objective on shares of Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Mercury Systems in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a “hold” rating in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group increased their target price on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $110.10.

About Mercury Systems

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.