Insider Selling: Mercury Systems (NASDAQ:MRCY) Director Sells $15,198,557.76 in Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 168,648 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $90.12, for a total transaction of $15,198,557.76. Following the completion of the sale, the director owned 4,215,517 shares in the company, valued at approximately $379,902,392.04. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 2nd, Jana Partners Management, Lp sold 182,510 shares of Mercury Systems stock. The shares were sold at an average price of $94.05, for a total value of $17,165,065.50.
• On Wednesday, March 4th, Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock. The stock was sold at an average price of $89.68, for a total transaction of $9,048,622.32.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00.

Mercury Systems Price Performance

Mercury Systems stock traded down $0.25 during midday trading on Wednesday, hitting $89.18. The company’s stock had a trading volume of 457,214 shares, compared to its average volume of 641,791. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The company has a market capitalization of $5.35 billion, a PE ratio of -168.26, a price-to-earnings-growth ratio of 8.66 and a beta of 0.77. The company has a quick ratio of 2.04, a current ratio of 2.96 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $88.59 and its 200-day moving average price is $78.52.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. The firm had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. During the same quarter last year, the business posted $0.07 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MRCY shares. Canaccord Genuity Group set a $102.00 price target on Mercury Systems in a report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 target price on shares of Mercury Systems in a research note on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 target price on shares of Mercury Systems in a research note on Wednesday, February 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mercury Systems currently has an average rating of “Hold” and a consensus target price of $86.89.

Hedge Funds Weigh In On Mercury Systems

Hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC acquired a new position in Mercury Systems during the 3rd quarter worth approximately $32,000. Leonteq Securities AG bought a new stake in Mercury Systems in the 4th quarter worth about $35,000. Hollencrest Capital Management purchased a new stake in shares of Mercury Systems during the fourth quarter valued at approximately $37,000. AlphaQuest LLC increased its position in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock valued at $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in 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 acquiring an additional 208 shares during the period. Institutional investors own 95.99% of the company’s stock.

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.