Mercury Systems (NASDAQ:MRCY) Director Jana Partners Management, Lp Sells 797,000 Shares

Key Points

• Jana Partners Management, Lp sold 797,000 shares of Mercury Systems' stock for approximately $52.1 million, decreasing their ownership stake by 11.79%.
• Mercury Systems reported an EPS of $0.47 for the last quarter, significantly exceeding expectations of $0.21, with a 9.9% year-over-year revenue increase to $273.11 million.
• Several analysts have significantly raised their target prices on Mercury Systems' stock, with Truist Financial suggesting a target of $71.00 and Raymond James increasing it to $80.00.

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) Director Jana Partners Management, Lp sold 797,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,139,740.00. Following the completion of the sale, the director owned 5,964,313 shares of the company's stock, valued at $390,185,356.46. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mercury Systems Trading Up 0.5%

MRCY stock traded up $0.32 during trading on Wednesday, hitting $64.54. The company had a trading volume of 637,583 shares, compared to its average volume of 787,551. The firm has a market capitalization of $3.87 billion, a P/E ratio of -97.79, a PEG ratio of 3.01 and a beta of 0.72. Mercury Systems Inc has a 52-week low of $32.32 and a 52-week high of $69.95. The company has a 50 day simple moving average of $53.99 and a 200-day simple moving average of $49.03. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.21 by $0.26. The company had revenue of $273.11 million for the quarter, compared to the consensus estimate of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. The firm's revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. As a group, research analysts forecast that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quaker Wealth Management LLC increased its position in Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock valued at $35,000 after purchasing an additional 1,288 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems in the 4th quarter worth approximately $33,000. Federated Hermes Inc. purchased a new position in shares of Mercury Systems in the 2nd quarter worth approximately $43,000. EverSource Wealth Advisors LLC grew its position in shares of Mercury Systems by 33.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after buying an additional 234 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Mercury Systems by 59.6% in the 1st quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock worth $46,000 after buying an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analysts Set New Price Targets

MRCY has been the topic of several recent analyst reports. Truist Financial raised their price target on shares of Mercury Systems from $60.00 to $71.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Raymond James Financial raised shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $55.00 to $80.00 in a research note on Tuesday, August 12th. Royal Bank Of Canada raised their price target on shares of Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. raised their price target on shares of Mercury Systems from $56.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Finally, The Goldman Sachs Group raised their price target on shares of Mercury Systems from $35.00 to $39.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Mercury Systems currently has a consensus rating of "Moderate Buy" and an average price target of $60.71.

Mercury Systems Company Profile

Mercury Systems, Inc, a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers.