Mercury Systems (NASDAQ:MRCY) EVP Steven Ratner Sells 7,000 Shares

Key Points

• Steven Ratner, EVP of Mercury Systems, sold 7,000 shares of stock at an average price of $63.76, totaling $446,320, which decreased his position by 17.16%.
• Mercury Systems reported earnings on August 11th, exceeding estimates with an EPS of $0.47 and revenue of $273.11 million, showing a 9.9% year-over-year increase.
• Several analysts have raised their price targets for Mercury Systems, with Truist Financial setting a new target of $71.00 and Raymond James Financial upgrading the stock to "strong-buy."

Mercury Systems Inc (NASDAQ:MRCY - Get Free Report) EVP Steven Ratner sold 7,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $63.76, for a total transaction of $446,320.00. Following the completion of the sale, the executive vice president owned 33,801 shares of the company's stock, valued at approximately $2,155,151.76. This represents a 17.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, August 19th, Steven Ratner sold 1,735 shares of Mercury Systems stock. The shares were sold at an average price of $64.46, for a total transaction of $111,838.10.
• On Monday, August 18th, Steven Ratner sold 1,681 shares of Mercury Systems stock. The shares were sold at an average price of $66.52, for a total transaction of $111,820.12.
• On Monday, June 16th, Steven Ratner sold 1,839 shares of Mercury Systems stock. The shares were sold at an average price of $53.48, for a total transaction of $98,349.72.

Mercury Systems Stock Up 0.4%

Shares of NASDAQ:MRCY traded up $0.29 during trading hours on Monday, hitting $67.12. The company's stock had a trading volume of 73,502 shares, compared to its average volume of 615,480. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.52 and a quick ratio of 2.41. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -101.57, a P/E/G ratio of 2.75 and a beta of 0.72. The firm's fifty day moving average price is $54.55 and its 200 day moving average price is $49.38. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $69.95.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $273.11 million during the quarter, compared to analyst estimates of $244.56 million. Mercury Systems had a negative net margin of 4.16% and a positive return on equity of 0.58%. Mercury Systems's revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, research analysts expect that Mercury Systems Inc will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on MRCY shares. Truist Financial boosted their price objective 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. Royal Bank Of Canada boosted their price objective 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. boosted their price objective 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. The Goldman Sachs Group boosted their price objective 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. Finally, Raymond James Financial upgraded shares of Mercury Systems from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $55.00 to $80.00 in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.71.

Institutional Trading of Mercury Systems

Several large investors have recently made changes to their positions in MRCY. Principal Financial Group Inc. boosted its holdings in Mercury Systems by 11.8% during the first quarter. Principal Financial Group Inc. now owns 274,954 shares of the technology company's stock worth $11,848,000 after buying an additional 29,074 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Mercury Systems during the fourth quarter worth $241,000. Calamos Advisors LLC acquired a new position in Mercury Systems during the first quarter worth $848,000. GAMMA Investing LLC raised its position in Mercury Systems by 6,776.2% during the first quarter. GAMMA Investing LLC now owns 45,589 shares of the technology company's stock worth $1,964,000 after acquiring an additional 44,926 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Mercury Systems in the first quarter valued at about $2,562,000. 95.99% of the stock is owned by hedge funds and other institutional investors.

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.

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