Debora Plunkett Sells 1,700 Shares of Mercury Systems (NASDAQ:MRCY) Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Debora Plunkett sold 1,700 shares of Mercury Systems stock in a transaction on Friday, November 7th. The stock was sold at an average price of $73.99, for a total transaction of $125,783.00. Following the transaction, the director directly owned 16,833 shares of the company’s stock, valued at $1,245,473.67. The trade was a 9.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mercury Systems Trading Up 0.8%

Shares of MRCY traded up $0.58 during midday trading on Monday, hitting $74.65. The stock had a trading volume of 536,092 shares, compared to its average volume of 623,825. The stock’s 50 day moving average is $75.85 and its 200 day moving average is $61.14. The firm has a market cap of $4.49 billion, a PE ratio of -113.10, a price-to-earnings-growth ratio of 3.17 and a beta of 0.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. Mercury Systems Inc has a 1 year low of $37.28 and a 1 year high of $85.33.

Mercury Systems (NASDAQ:MRCY) last released its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm had revenue of $256.86 million during the quarter. As a group, analysts forecast that Mercury Systems Inc will post -0.08 EPS for the current fiscal year.

Institutional Trading of Mercury Systems

Hedge funds have recently modified their holdings of the company. Optiver Holding B.V. grew its position in shares of Mercury Systems by 1,670.5% in the 3rd quarter. Optiver Holding B.V. now owns 3,063 shares of the technology company’s stock worth $237,000 after buying an additional 2,890 shares during the last quarter. TD Asset Management Inc lifted its position in Mercury Systems by 164.2% during the third quarter. TD Asset Management Inc now owns 30,954 shares of the technology company’s stock valued at $2,396,000 after acquiring an additional 19,236 shares during the last quarter. Vanguard Group Inc. boosted its stake in Mercury Systems by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,731,033 shares of the technology company’s stock valued at $443,582,000 after acquiring an additional 221,093 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Mercury Systems by 45.4% in the third quarter. JPMorgan Chase & Co. now owns 181,773 shares of the technology company’s stock worth $14,069,000 after purchasing an additional 56,800 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Mercury Systems in the third quarter worth $2,508,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MRCY shares. Royal Bank Of Canada set a $95.00 price target on Mercury Systems and gave the stock an “outperform” rating in a report on Wednesday. Wall Street Zen downgraded Mercury Systems from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Truist Financial lifted their target price on Mercury Systems from $71.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. UBS Group set a $88.00 target price on shares of Mercury Systems in a research note on Thursday, October 2nd. Finally, Canaccord Genuity Group initiated coverage on shares of Mercury Systems in a research note on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price target on the stock. Two investment analysts have 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

About Mercury Systems

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.