Insider Selling: Mercury Systems (NASDAQ:MRCY) CEO Sells $4,373,919.00 in Stock

Mercury Systems Inc (NASDAQ:MRCY) CEO William Ballhaus sold 49,090 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total value of $4,373,919.00. Following the sale, the chief executive officer owned 361,822 shares of the company’s stock, valued at $32,238,340.20. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mercury Systems Trading Down 2.1%

Shares of MRCY stock opened at $88.54 on Friday. The stock’s fifty day moving average is $105.02 and its two-hundred day moving average is $94.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The firm has a market capitalization of $5.32 billion, a P/E ratio of -177.08 and a beta of 0.95. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week high of $128.45.

Mercury Systems (NASDAQ:MRCY) last announced its 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 positive return on equity of 1.29% and a negative net margin of 3.02%.The business had revenue of $289.78 million for the quarter, compared to analyst estimates of $266.09 million. During the same period last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that Mercury Systems Inc will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of Mercury Systems by 53.2% in the second quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after purchasing an additional 208 shares during the period. Leonteq Securities AG acquired a new stake in Mercury Systems during the fourth quarter worth about $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems during the fourth quarter worth about $37,000. Public Employees Retirement System of Ohio purchased a new position in Mercury Systems during the second quarter worth about $43,000. Finally, Federated Hermes Inc. acquired a new position in Mercury Systems in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

Wall Street Analysts Forecast Growth

MRCY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a “hold” rating in a research note on Wednesday, August 12th. Robert W. Baird raised their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Truist Financial boosted their target price on Mercury Systems from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Weiss Ratings upgraded Mercury Systems from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Finally, The Goldman Sachs Group upped 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $110.10.

About Mercury Systems

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.