Mercury Systems Inc $MRCY Shares Sold by JANA Partners Management LP

JANA Partners Management LP cut its holdings in Mercury Systems Inc (NASDAQ:MRCY) by 3.6% during the 2nd quarter, Holdings Channel reports. The firm owned 3,958,849 shares of the technology company’s stock after selling 148,575 shares during the period. Mercury Systems comprises approximately 25.5% of JANA Partners Management LP’s investment portfolio, making the stock its biggest holding. JANA Partners Management LP owned 0.07% of Mercury Systems worth $484,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Osaic Holdings Inc. lifted its stake in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock valued at $32,000 after buying an additional 208 shares in the last quarter. Leonteq Securities AG acquired a new stake in Mercury Systems during the 4th quarter valued at $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems during the fourth quarter worth $37,000. Public Employees Retirement System of Ohio acquired a new position in shares of Mercury Systems in the second quarter worth $43,000. Finally, Federated Hermes Inc. acquired a new position in shares of Mercury Systems in the second quarter worth $43,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Mercury Systems

In other news, CEO William Ballhaus sold 111,076 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $87.12, for a total transaction of $9,676,941.12. Following the transaction, the chief executive officer directly owned 342,436 shares in the company, valued at $29,833,024.32. This represents a 24.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Farnsworth sold 8,155 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $100.31, for a total transaction of $818,028.05. Following the completion of the sale, the executive vice president owned 124,579 shares of the company’s stock, valued at approximately $12,496,519.49. The trade was a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 446,186 shares of company stock valued at $41,432,610. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on MRCY shares. The Goldman Sachs Group increased their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft lowered shares of Mercury Systems to a “hold” rating in a report on Wednesday, August 12th. Canaccord Genuity Group raised their price target on shares of Mercury Systems from $106.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Royal Bank Of Canada lifted their price target on shares of Mercury Systems from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, Zacks Research lowered shares of Mercury Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercury Systems has a consensus rating of “Hold” and a consensus target price of $110.10.

Mercury Systems Price Performance

Shares of NASDAQ:MRCY opened at $84.71 on Friday. The company has a market cap of $5.09 billion, a P/E ratio of -169.42 and a beta of 0.98. The business has a fifty day simple moving average of $103.11 and a 200-day simple moving average of $95.09. Mercury Systems Inc has a 52 week low of $65.04 and a 52 week high of $128.45. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29.

Mercury Systems (NASDAQ:MRCY) last released its 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). 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 analysts’ expectations of $266.09 million. During the same quarter last year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Mercury Systems Inc will post 0.89 EPS for the current year.

Mercury Systems Profile

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.