Key Points
- Jana Partners sold 400,000 shares of Mercury Systems on Feb. 9 at an average price of $81, raising about $32.4 million and reducing its ownership by 8.05% to 4,566,675 shares (≈$369.9M); the transaction was disclosed in an SEC filing.
- Mercury Systems beat the latest quarter's estimates with $0.16 EPS vs $0.07 consensus and revenue of $232.9M (vs ~$210M est), but it still has a negative net margin and mixed analyst sentiment, carrying a consensus "Hold" and a target price of $86.89.
Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) Director Jana Partners Management, Lp sold 400,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $81.00, for a total value of $32,400,000.00. Following the sale, the director owned 4,566,675 shares of the company's stock, valued at approximately $369,900,675. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Mercury Systems Stock Performance
Shares of NASDAQ MRCY opened at $80.33 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.96 and a quick ratio of 2.04. Mercury Systems Inc has a one year low of $39.89 and a one year high of $103.84. The business's 50-day moving average price is $84.29 and its two-hundred day moving average price is $75.36. The company has a market capitalization of $4.82 billion, a P/E ratio of -151.57, a price-to-earnings-growth ratio of 6.99 and a beta of 0.75.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $232.87 million during the quarter, compared to analyst estimates of $209.96 million. During the same period in the previous year, the company earned $0.07 EPS. The firm's revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mercury Systems
A number of hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in shares of Mercury Systems in the third quarter valued at about $32,000. Leonteq Securities AG bought a new stake in Mercury Systems during the 4th quarter valued at approximately $35,000. AlphaQuest LLC grew its holdings in Mercury Systems by 41.9% in 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 during the last quarter. Osaic Holdings Inc. increased its position in 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 period. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Mercury Systems by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock worth $35,000 after buying an additional 1,288 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on MRCY shares. Truist Financial raised their price target on shares of Mercury Systems from $102.00 to $109.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 target price on shares of Mercury Systems in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mercury Systems in a research report on Thursday, January 22nd. Jefferies Financial Group reiterated a "hold" rating and set a $85.00 price target on shares of Mercury Systems in a research note on Sunday. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued 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 assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Mercury Systems currently has a consensus rating of "Hold" and a consensus target price of $86.89.
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Mercury Systems Company Profile
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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.
Further Reading
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