Jana Partners Management, Lp Sells 182,510 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Jana Partners Management, Lp sold 182,510 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $94.05, for a total value of $17,165,065.50. Following the sale, the director owned 4,384,165 shares of the company’s stock, valued at approximately $412,330,718.25. This represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 4th, Jana Partners Management, Lp sold 100,899 shares of Mercury Systems stock. The shares were sold at an average price of $89.68, for a total transaction of $9,048,622.32.
• On Tuesday, March 3rd, Jana Partners Management, Lp sold 168,648 shares of Mercury Systems stock. The shares were sold at an average price of $90.12, for a total transaction of $15,198,557.76.
• 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 transaction of $32,400,000.00.

Mercury Systems Stock Down 4.7%

Mercury Systems stock opened at $84.96 on Friday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -160.30, a price-to-earnings-growth ratio of 8.64 and a beta of 0.77. The firm’s fifty day moving average price is $88.80 and its two-hundred day moving average price is $78.57. Mercury Systems Inc has a 1-year low of $39.89 and a 1-year 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 earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share 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 company had revenue of $232.87 million for the quarter, compared to analyst estimates of $209.96 million. During the same quarter in the prior year, the business posted $0.07 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new stake in Mercury Systems during the third quarter worth about $32,000. Leonteq Securities AG bought a new position in shares of Mercury Systems during the 4th quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new stake in shares of Mercury Systems during the 4th quarter worth approximately $37,000. AlphaQuest LLC increased its stake in shares of Mercury Systems by 41.9% during the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after purchasing an additional 168 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings 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 purchasing an additional 208 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRCY. The Goldman Sachs Group upped their price target on Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, January 20th. Canaccord Genuity Group set a $102.00 target price 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 report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $105.00 price target on shares of Mercury Systems in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price objective on shares of Mercury Systems in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.