Mercury Systems (NASDAQ:MRCY) CEO William Ballhaus Sells 108,209 Shares

Key Points

• CEO William Ballhaus sold 108,209 Mercury Systems shares at an average price of $89.50, generating approximately $9.68 million. His remaining stake fell 26.52% to 299,836 shares.
• Mercury Systems shares declined 2.1% to $87.74 after the transaction. The company recently reported quarterly EPS of $0.37, slightly below estimates, while revenue rose 6.1% year over year to $289.78 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $110.10; institutional investors own nearly 96% of the stock.

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) CEO William Ballhaus sold 108,209 shares of Mercury Systems stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $89.50, for a total transaction of $9,684,705.50. Following the sale, the chief executive officer owned 299,836 shares in the company, valued at $26,835,322. This represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mercury Systems Stock Down 2.1%

MRCY traded down $1.85 during trading hours on Tuesday, reaching $87.74. 1,093,324 shares of the stock traded hands, compared to its average volume of 682,659. Mercury Systems Inc has a fifty-two week low of $65.04 and a fifty-two week high of $128.45. The company has a market cap of $5.28 billion, a price-to-earnings ratio of -175.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.96 and a quick ratio of 1.85. The firm's fifty day simple moving average is $107.01 and its two-hundred day simple moving average is $94.79.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $289.78 million for the quarter, compared to analysts' expectations of $266.09 million. Mercury Systems had a positive return on equity of 1.29% and a negative net margin of 3.02%.Mercury Systems's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, analysts forecast that Mercury Systems Inc will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercury Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Mercury Systems in the 2nd quarter worth about $1,146,342,000. Deutsche Bank AG acquired a new position in shares of Mercury Systems during the second quarter worth approximately $17,454,000. Rice Hall James & Associates LLC acquired a new stake in Mercury Systems in the 2nd quarter valued at approximately $4,866,000. Louisiana State Employees Retirement System bought a new stake in Mercury Systems during the 1st quarter valued at $1,706,000. Finally, One Capital Management LLC boosted its position in Mercury Systems by 43.6% during the 4th quarter. One Capital Management LLC now owns 29,300 shares of the technology company's stock worth $2,139,000 after acquiring an additional 8,893 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Piper Sandler reiterated an "overweight" rating and set a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on Mercury Systems from $99.00 to $101.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Canaccord Genuity Group upped their price objective on Mercury Systems from $106.00 to $128.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Deutsche Bank Aktiengesellschaft downgraded Mercury Systems to a "hold" rating in a report on Wednesday, August 12th. Finally, Zacks Research downgraded Mercury Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $110.10.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source