Mercury Systems (NASDAQ:MRCY) EVP Sells $338,040.00 in Stock

Key Points

• Mercury Systems EVP Steven Ratner sold 4,000 shares at an average price of $84.51, generating $338,040 and reducing his ownership by 17.19% to 19,275 shares.
• The sale followed several additional insider transactions in August, bringing Ratner’s recent selling activity to more than 10,000 shares as the stock declined from prices above $100.
• Mercury Systems exceeded revenue expectations in its latest quarter but narrowly missed EPS estimates; analysts’ consensus rating is “Hold”, with an average price target of $110.10.

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) EVP Steven Ratner sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $84.51, for a total value of $338,040.00. Following the completion of the transaction, the executive vice president owned 19,275 shares of the company's stock, valued at $1,628,930.25. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Steven Ratner also recently made the following trade(s):

• On Friday, August 21st, Steven Ratner sold 356 shares of Mercury Systems stock. The stock was sold at an average price of $91.36, for a total transaction of $32,524.16.
• On Thursday, August 20th, Steven Ratner sold 1,026 shares of Mercury Systems stock. The shares were sold at an average price of $97.67, for a total value of $100,209.42.
• On Wednesday, August 19th, Steven Ratner sold 2,187 shares of Mercury Systems stock. The shares were sold at an average price of $100.31, for a total value of $219,377.97.
• On Tuesday, August 18th, Steven Ratner sold 1,971 shares of Mercury Systems stock. The stock was sold at an average price of $111.36, for a total transaction of $219,490.56.
• On Monday, August 17th, Steven Ratner sold 1,084 shares of Mercury Systems stock. The stock was sold at an average price of $109.95, for a total value of $119,185.80.

Mercury Systems Price Performance

Shares of Mercury Systems stock opened at $83.46 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.96. The stock has a 50 day moving average price of $101.24 and a 200-day moving average price of $95.06. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of -166.92 and a beta of 0.98. Mercury Systems Inc has a one year low of $65.04 and a one year high of $128.45.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last announced 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 negative net margin of 3.02% and a positive return on equity of 1.29%. The firm had revenue of $289.78 million during the quarter, compared to analysts' expectations of $266.09 million. During the same period in the prior year, the company posted $0.47 EPS. The company's revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Mercury Systems Inc will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MRCY shares. JPMorgan Chase & Co. boosted their target price on Mercury Systems from $99.00 to $101.00 and gave the company a "neutral" rating in a research report on Monday, July 13th. Robert W. Baird raised their price target on shares of Mercury Systems from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Mercury Systems from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 24th. Piper Sandler reissued an "overweight" rating and issued a $131.00 price objective (up from $126.00) on shares of Mercury Systems in a research report on Wednesday, August 19th. Finally, Zacks Research downgraded shares of Mercury Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $110.10.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MRCY. Integrated Wealth Concepts LLC bought a new stake in shares of Mercury Systems in the 2nd quarter valued at about $87,000. IFP Advisors Inc boosted its stake in shares of Mercury Systems by 250.8% during the second quarter. IFP Advisors Inc now owns 463 shares of the technology company's stock valued at $57,000 after purchasing an additional 331 shares in the last quarter. Nykredit A S purchased a new position in Mercury Systems during the second quarter valued at approximately $265,000. Corient Private Wealth LP increased its holdings in Mercury Systems by 92.4% during the second quarter. Corient Private Wealth LP now owns 11,338 shares of the technology company's stock valued at $1,387,000 after buying an additional 5,446 shares during the period. Finally, California State Teachers Retirement System raised its stake in Mercury Systems by 11,902.8% in the second quarter. California State Teachers Retirement System now owns 7,630,211 shares of the technology company's stock worth $933,404,000 after buying an additional 7,566,641 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

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.