Jana Partners Management, Lp Sells 168,648 Shares of Mercury Systems (NASDAQ:MRCY) Stock

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

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 transaction 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 value of $9,048,622.32.
• On Monday, February 9th, Jana Partners Management, Lp sold 400,000 shares of Mercury Systems stock. The stock was sold at an average price of $81.00, for a total value of $32,400,000.00.

Mercury Systems Trading Down 4.7%

Shares of MRCY stock opened at $84.96 on Friday. The stock has a market cap of $5.10 billion, a P/E ratio of -160.30, a P/E/G ratio of 8.64 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. Mercury Systems Inc has a fifty-two week low of $39.89 and a fifty-two week high of $103.84. The business has a fifty day simple moving average of $88.80 and a 200-day simple moving average of $78.57.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Mercury Systems by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock worth $443,582,000 after acquiring an additional 221,093 shares during the last quarter. State Street Corp raised its stake in Mercury Systems by 12.1% during the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock worth $249,957,000 after purchasing an additional 368,242 shares during the period. Invesco Ltd. raised its stake in Mercury Systems by 25.1% during the fourth quarter. Invesco Ltd. now owns 1,910,742 shares of the technology company’s stock worth $139,503,000 after purchasing an additional 383,299 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Mercury Systems by 1.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock valued at $112,644,000 after purchasing an additional 21,182 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Mercury Systems by 96.3% during the 3rd quarter. First Trust Advisors LP now owns 1,532,822 shares of the technology company’s stock valued at $118,640,000 after buying an additional 751,813 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MRCY shares. Truist Financial increased their target price on Mercury Systems from $102.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mercury Systems in a research report on Thursday, January 22nd. The Goldman Sachs Group upped their target price on shares of Mercury Systems from $49.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, January 20th. Finally, Canaccord Genuity Group set a $102.00 price target on shares of Mercury Systems in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.