Jana Partners Management, Lp Sells 400,000 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $81.00, for a total value of $32,400,000.00. Following the completion of the sale, the director directly owned 4,566,675 shares in the company, valued at $369,900,675. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mercury Systems Stock Down 0.1%

MRCY stock opened at $80.25 on Friday. The company’s 50 day moving average price is $84.47 and its 200 day moving average price is $75.40. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of -151.42, a PEG ratio of 6.66 and a beta of 0.75. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.96.

Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate 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 company 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 posted $0.07 EPS. The firm’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Canaccord Genuity Group set a $102.00 price objective on Mercury Systems in a research report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $105.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. 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. Weiss Ratings restated a “sell (d-)” rating on shares of Mercury Systems in a report on Thursday, January 22nd. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $100.00 price target on shares of Mercury Systems in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned 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 $86.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. raised 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 buying an additional 943,736 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Mercury Systems by 321.7% during the second quarter. Loomis Sayles & Co. L P now owns 992,610 shares of the technology company’s stock worth $53,462,000 after purchasing an additional 757,216 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Mercury Systems by 96.3% during the third quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock worth $118,640,000 after purchasing an additional 751,813 shares during the period. Allspring Global Investments Holdings LLC grew its position in Mercury Systems by 287.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 693,867 shares of the technology company’s stock valued at $56,328,000 after buying an additional 514,756 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new position in Mercury Systems in the 2nd quarter valued at $24,599,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.