Jana Partners Management, Lp Sells 1,000,000 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $75.45, for a total transaction of $75,450,000.00. Following the transaction, the director directly owned 4,966,675 shares in the company, valued at $374,735,628.75. The trade was a 16.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Jana Partners Management, Lp also recently made the following trade(s):

• On Wednesday, August 13th, Jana Partners Management, Lp sold 797,000 shares of Mercury Systems stock. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $72.74 on Wednesday. The company has a market cap of $4.37 billion, a P/E ratio of -110.21, a P/E/G ratio of 3.17 and a beta of 0.79. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a 52 week low of $37.28 and a 52 week high of $85.33. The business has a fifty day simple moving average of $76.09 and a 200-day simple moving average of $61.47.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, June 7th. The technology company reported $0.64 earnings per share for the quarter. The firm had revenue of $256.86 million for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%. Equities research analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

MRCY has been the topic of several research analyst reports. UBS Group set a $88.00 target price on shares of Mercury Systems in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on Mercury Systems from $35.00 to $39.00 and gave the stock a “sell” rating in a report on Wednesday, August 13th. Robert W. Baird lifted their target price on Mercury Systems from $58.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Mercury Systems from $56.00 to $68.00 and gave the company a “neutral” rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mercury Systems currently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Institutional Trading of Mercury Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new position in Mercury Systems in the third quarter valued at about $32,000. Osaic Holdings Inc. grew its stake 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 valued at $32,000 after buying an additional 208 shares in the last quarter. Quaker Wealth Management LLC grew its stake in shares of Mercury Systems by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company’s stock valued at $35,000 after buying an additional 1,288 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Mercury Systems during the 2nd quarter valued at about $43,000. Finally, AlphaQuest LLC lifted its position in Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after acquiring an additional 168 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.