Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) CEO William Ballhaus sold 65,000 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $92.41, for a total value of $6,006,650.00. Following the transaction, the chief executive officer owned 256,047 shares of the company's stock, valued at approximately $23,661,303.27. The trade was a 20.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Mercury Systems Price Performance
Shares of MRCY stock opened at $87.74 on Wednesday. The company has a market capitalization of $5.28 billion, a P/E ratio of -175.48 and a beta of 0.95. The company's 50-day simple moving average is $106.52 and its two-hundred day simple moving average is $94.87. Mercury Systems Inc has a one year low of $65.04 and a one year high of $128.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 negative net margin of 3.02% and a positive return on equity of 1.29%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Mercury Systems Inc will post 0.77 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on MRCY. Jefferies Financial Group restated a "hold" rating and set a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a "hold" rating in a report on Wednesday, August 12th. Royal Bank Of Canada raised their target price on shares of Mercury Systems from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Canaccord Genuity Group upped their price target on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a "buy" rating in a research report on Thursday, August 20th. Finally, Robert W. Baird increased their price objective on shares of Mercury Systems from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $110.10.
Read Our Latest Stock Report on MRCY
Mercury Systems News Roundup
Here are the key news stories impacting Mercury Systems this week:
- Neutral Sentiment: Reported short interest was listed at zero shares as of August 25, unchanged from zero shares previously, with a 0.0-day days-to-cover ratio. Because the data also reports an invalid “NaN” percentage change, it provides little useful signal for investors.
- Neutral Sentiment: A law firm is asking Mercury Systems shareholders to discuss their rights and options regarding alleged potential fiduciary-duty breaches. The release is an investor solicitation rather than a confirmed regulatory finding or lawsuit outcome, but it may add headline risk. Shareholder fiduciary-duty solicitation
- Negative Sentiment: CEO William L. Ballhaus sold 65,000 shares for approximately $6.0 million on August 21 at an average price of $92.41, reducing his direct ownership by 20.25%. He sold another 108,209 shares for approximately $9.7 million on August 24 at an average price of $89.50, a 26.52% reduction in ownership. The combined sales of roughly $15.7 million can be viewed as a lack of confidence by some investors, even though insider sales can also reflect diversification or personal financial planning. CEO SEC Form 4 filings
- Negative Sentiment: EVP Stuart Kupinsky sold 1,000 shares for $95,230, while EVP Steven Ratner sold 356 shares for $32,524. Kupinsky’s transaction was executed under a pre-arranged Rule 10b5-1 plan, which somewhat reduces its signaling value, but the additional executive selling reinforces the near-term bearish narrative. Executive SEC Form 4 filings
Institutional Trading of Mercury Systems
Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Mercury Systems during the 2nd quarter worth approximately $43,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Mercury Systems during the second quarter valued at approximately $52,000. Leonteq Securities AG acquired a new stake in Mercury Systems in the fourth quarter valued at approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems in the fourth quarter worth $37,000. Finally, Osaic Holdings Inc. grew its holdings in Mercury Systems by 53.2% in the second 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 last quarter. 95.99% of the stock is currently owned by institutional investors.
About Mercury Systems
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Get Free Report)
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.
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