Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 108,209 Shares

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 108,209 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $89.50, for a total transaction of $9,684,705.50. Following the completion of the sale, the chief executive officer directly owned 299,836 shares of the company’s stock, valued at $26,835,322. The trade was a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mercury Systems Price Performance

Mercury Systems stock traded down $1.85 during trading hours on Tuesday, hitting $87.74. 1,093,324 shares of the company traded hands, compared to its average volume of 682,659. The firm has a market cap of $5.28 billion, a P/E ratio of -175.48 and a beta of 0.95. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $107.01 and its two-hundred day simple moving average is $94.79. Mercury Systems Inc has a 1-year low of $65.04 and a 1-year high of $128.45.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million for the quarter, compared to the consensus estimate of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, analysts forecast that Mercury Systems Inc will post 0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRCY has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. The Goldman Sachs Group upped their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a report on Monday, May 11th. Canaccord Genuity Group raised their target price on Mercury Systems from $106.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Zacks Research cut shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Mercury Systems in the 2nd quarter worth approximately $1,146,342,000. California State Teachers Retirement System raised its stake in Mercury Systems by 11,902.8% during the 2nd quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company’s stock valued at $933,404,000 after purchasing an additional 7,566,641 shares during the period. Invesco Ltd. lifted its holdings in shares of Mercury Systems by 161.7% in the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock valued at $118,224,000 after purchasing an additional 943,736 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of Mercury Systems in the second quarter valued at $74,244,000. Finally, American Capital Management Inc. acquired a new stake in shares of Mercury Systems in the second quarter worth $59,460,000. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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.