Mercury Systems Inc $MRCY is JANA Partners Management LP’s Largest Position

JANA Partners Management LP lowered its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,959,481 shares of the technology company’s stock after selling 793,932 shares during the period. Mercury Systems makes up 22.3% of JANA Partners Management LP’s investment portfolio, making the stock its largest holding. JANA Partners Management LP owned about 0.10% of Mercury Systems worth $461,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC bought a new position in shares of Mercury Systems during the third quarter valued at approximately $32,000. Osaic Holdings Inc. grew its stake in shares of Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after buying an additional 208 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Mercury Systems in the 2nd quarter worth approximately $43,000. AlphaQuest LLC increased its position in 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 buying an additional 168 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Mercury Systems by 33.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company’s stock valued at $50,000 after buying an additional 234 shares in the last quarter. Institutional investors own 95.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jana Partners Management, Lp sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $81.00, for a total transaction of $32,400,000.00. Following the completion of the transaction, the director directly owned 4,566,675 shares of the company’s stock, valued at $369,900,675. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Douglas Munro sold 582 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $83.56, for a total transaction of $48,631.92. Following the transaction, the chief accounting officer owned 14,328 shares in the company, valued at approximately $1,197,247.68. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 859,758 shares of company stock worth $74,481,931 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Performance

Shares of MRCY opened at $78.16 on Monday. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -147.47, a P/E/G ratio of 7.57 and a beta of 0.77. The business’s fifty day simple moving average is $90.06 and its two-hundred day simple moving average is $79.51. Mercury Systems Inc has a 12 month low of $39.89 and a 12 month high of $103.84. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on MRCY. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 target price on shares of Mercury Systems in a report on Sunday, February 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Truist Financial upped their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $102.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Mercury Systems presently has a consensus rating of “Hold” and an average target price of $86.89.

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.