Mercury Systems (NASDAQ:MRCY) Director Sells $625,520.00 in Stock

Mercury Systems Inc (NASDAQ:MRCY) Director Orlando Carvalho sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total value of $625,520.00. Following the completion of the transaction, the director directly owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mercury Systems Stock Performance

NASDAQ:MRCY traded up $0.18 on Wednesday, hitting $92.50. The stock had a trading volume of 406,821 shares, compared to its average volume of 638,278. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -385.42, a price-to-earnings-growth ratio of 8.91 and a beta of 0.83. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $81.39 and its two-hundred day simple moving average is $80.94. Mercury Systems Inc has a 52-week low of $44.01 and a 52-week high of $103.84.

Mercury Systems (NASDAQ:MRCY) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.21. The business had revenue of $235.76 million for the quarter, compared to analysts’ expectations of $208.56 million. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. As a group, research analysts predict that Mercury Systems Inc will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in Mercury Systems by 53.2% in the 2nd quarter. Osaic Holdings Inc. now owns 599 shares of the technology company’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Leonteq Securities AG purchased a new position in Mercury Systems in the 4th quarter worth approximately $35,000. Hollencrest Capital Management purchased a new position in Mercury Systems in the 4th quarter worth approximately $37,000. Federated Hermes Inc. purchased a new position in Mercury Systems in the 2nd quarter worth approximately $43,000. Finally, AlphaQuest LLC lifted its holdings in Mercury Systems by 41.9% in the 3rd quarter. AlphaQuest LLC now owns 569 shares of the technology company’s stock worth $44,000 after purchasing an additional 168 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRCY. Truist Financial raised Mercury Systems to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. The Goldman Sachs Group lifted their price objective on Mercury Systems from $60.00 to $68.00 and gave the company a “sell” rating in a research report on Monday. Canaccord Genuity Group lifted their price objective on Mercury Systems from $102.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Mercury Systems in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.89.

Mercury Systems Company 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.