Insider Selling: Mercury Systems (NASDAQ:MRCY) EVP Sells 3,625 Shares of Stock

Mercury Systems Inc (NASDAQ:MRCY) EVP David Farnsworth sold 3,625 shares of the firm’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $84.87, for a total transaction of $307,653.75. Following the transaction, the executive vice president directly owned 157,701 shares of the company’s stock, valued at $13,384,083.87. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Mercury Systems Price Performance

MRCY traded down $0.86 during trading on Friday, hitting $84.05. 917,757 shares of the company traded hands, compared to its average volume of 652,190. The company has a market cap of $5.04 billion, a PE ratio of -158.58, a P/E/G ratio of 8.28 and a beta of 0.84. The stock’s 50-day simple moving average is $82.02 and its two-hundred day simple moving average is $80.42. Mercury Systems Inc has a 1 year low of $44.01 and a 1 year high of $103.84. The company has a current ratio of 2.96, a quick ratio of 2.04 and a debt-to-equity ratio of 0.41.

Mercury Systems (NASDAQ:MRCY) last posted its earnings results on Tuesday, February 3rd. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.09. The company had revenue of $232.87 million during the quarter, compared to analysts’ expectations of $209.96 million. Mercury Systems had a negative net margin of 3.23% and a positive return on equity of 1.28%. Mercury Systems’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. As a group, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Mercury Systems from $49.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, January 20th. Truist Financial lifted their price objective on shares of Mercury Systems from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Mercury Systems in a research note on Wednesday, February 4th. Jefferies Financial Group dropped their price objective on shares of Mercury Systems from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, April 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.33.

Hedge Funds Weigh In On Mercury Systems

A number of institutional investors and hedge funds have recently made changes to their positions in MRCY. Hsbc Holdings PLC bought a new stake in shares of Mercury Systems in the 4th quarter worth about $248,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Mercury Systems by 53.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 653 shares of the technology company’s stock worth $48,000 after acquiring an additional 228 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Mercury Systems by 35.7% in the 4th quarter. Corient Private Wealth LLC now owns 7,811 shares of the technology company’s stock worth $573,000 after acquiring an additional 2,056 shares during the last quarter. Corecam Pte. Ltd. bought a new stake in shares of Mercury Systems in the 4th quarter worth about $321,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Mercury Systems by 1.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,542,851 shares of the technology company’s stock worth $112,644,000 after acquiring an additional 21,182 shares during the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.