Key Points
- CEO William Ballhaus sold 111,076 Mercury Systems shares at an average price of $87.12, generating $9.68 million and reducing his ownership by 24.49% to 342,436 shares.
- Mercury Systems reported quarterly EPS of $0.37, slightly below estimates, while revenue of $289.78 million exceeded forecasts and increased 6.1% year over year.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $110.10 target price; institutional investors own nearly 96% of the company.
Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) CEO William Ballhaus sold 49,090 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the transaction, the chief executive officer owned 361,822 shares of the company's stock, valued at $32,238,340.20. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Mercury Systems Trading Up 0.8%
NASDAQ:MRCY opened at $90.47 on Friday. The company has a 50-day moving average price of $105.53 and a 200-day moving average price of $95.00. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of -180.94 and a beta of 0.95. The company has a current ratio of 2.96, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. Mercury Systems Inc has a 12 month low of $65.04 and a 12 month high of $128.45.
Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company had revenue of $289.78 million for the quarter, compared to analysts' expectations of $266.09 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Mercury Systems's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that Mercury Systems Inc will post 0.88 EPS for the current year.
Institutional Trading of Mercury Systems
A number of hedge funds have recently made changes to their positions in MRCY. AQR Capital Management LLC bought a new position in Mercury Systems during the 1st quarter valued at approximately $755,000. Goldman Sachs Group Inc. raised its stake in Mercury Systems by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock valued at $36,861,000 after buying an additional 290,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Mercury Systems by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company's stock worth $6,878,000 after acquiring an additional 18,916 shares in the last quarter. Jane Street Group LLC boosted its holdings in Mercury Systems by 161.3% in the first quarter. Jane Street Group LLC now owns 50,769 shares of the technology company's stock worth $2,188,000 after acquiring an additional 31,337 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Mercury Systems by 30.3% in the second quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company's stock worth $6,731,000 after acquiring an additional 29,057 shares during the last quarter. 95.99% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on MRCY shares. Weiss Ratings raised Mercury Systems from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday. The Goldman Sachs Group lifted their price target on Mercury Systems from $60.00 to $68.00 and gave the company a "sell" rating in a research report on Monday, May 11th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $115.00 price target on shares of Mercury Systems in a research note on Friday, July 10th. Zacks Research cut Mercury Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a "hold" rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $110.10.
Check Out Our Latest Analysis on MRCY
About Mercury Systems
(
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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