Mercury Systems Inc $MRCY Stock Sold by Calamos Advisors LLC

Key Points

• Calamos Advisors cut its Mercury Systems stake by 58.1% in the third quarter, selling 24,742 shares and retaining 17,866 shares valued at about $1.48 million.
• Company insiders sold 452,186 shares worth roughly $41.9 million over the last quarter; CEO William Ballhaus accounted for a sale of 49,090 shares.
• Mercury Systems’ latest quarterly revenue of $289.78 million topped estimates, but EPS of $0.37 fell short of the $0.38 consensus. Analysts’ overall rating is “Hold,” with a consensus price target of $107.90.

Calamos Advisors LLC reduced its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 58.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,866 shares of the technology company's stock after selling 24,742 shares during the period. Calamos Advisors LLC's holdings in Mercury Systems were worth $1,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Mercury Systems during the second quarter valued at approximately $1,146,342,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Mercury Systems by 46.9% in the first quarter. Segall Bryant & Hamill LLC now owns 934,824 shares of the technology company's stock valued at $68,158,000 after purchasing an additional 298,298 shares during the period. Wellington Management Group LLP grew its stake in Mercury Systems by 2.6% in the second quarter. Wellington Management Group LLP now owns 775,502 shares of the technology company's stock worth $94,867,000 after purchasing an additional 19,977 shares in the last quarter. Jennison Associates LLC grew its stake in Mercury Systems by 52.9% in the first quarter. Jennison Associates LLC now owns 688,114 shares of the technology company's stock worth $50,170,000 after purchasing an additional 238,147 shares in the last quarter. Finally, Bamco Inc. NY purchased a new position in Mercury Systems during the 2nd quarter worth $74,244,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mercury Systems

In other Mercury Systems news, EVP Stuart Kupinsky sold 1,000 shares of Mercury Systems stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $76.00, for a total value of $76,000.00. Following the transaction, the executive vice president owned 59,971 shares in the company, valued at $4,557,796. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Ballhaus sold 49,090 shares of the business's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $89.10, for a total transaction of $4,373,919.00. Following the completion of the transaction, the chief executive officer owned 361,822 shares of the company's stock, valued at $32,238,340.20. This represents a 11.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 452,186 shares of company stock valued at $41,933,170 over the last quarter. 0.99% of the stock is owned by corporate insiders.

Mercury Systems Stock Up 8.3%

Mercury Systems stock opened at $79.62 on Tuesday. The business has a fifty day moving average of $80.18 and a two-hundred day moving average of $91.07. The company has a quick ratio of 1.85, a current ratio of 2.96 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.85 billion, a P/E ratio of 224.25 and a beta of 0.98. Mercury Systems Inc has a twelve month low of $64.37 and a twelve month high of $128.45.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The company had revenue of $289.78 million during the quarter, compared to analysts' expectations of $266.09 million. Mercury Systems had a negative net margin of 3.02% and a positive return on equity of 1.29%. The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, analysts forecast that Mercury Systems Inc will post 0.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on MRCY. Zacks Research cut Mercury Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Truist Financial raised their price target on Mercury Systems from $109.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Guggenheim began coverage on Mercury Systems in a report on Monday, September 14th. They issued a "buy" rating and a $115.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut shares of Mercury Systems to a "hold" rating in a report on Wednesday, August 12th. Finally, Robert W. Baird increased their target price on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an "outperform" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Mercury Systems presently has a consensus rating of "Hold" and a consensus price target of $107.90.

About Mercury Systems

Mercury Systems, Inc develops and supplies secure processing systems and subsystems for the aerospace and defense industries. Its products include embedded computing, signal processing, radio-frequency and microwave components, and other technologies used to process and manage critical data.

The company's technologies support applications such as radar, electronic warfare, communications, avionics, and command-and-control systems. Mercury works with defense contractors and government customers, providing components and systems designed for use in demanding environments.

Founded in 1981 and headquartered in Andover, Massachusetts, Mercury serves customers in the United States and internationally.

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