Insider Selling: Mercury Systems (NASDAQ:MRCY) EVP Sells 7,000 Shares of Stock

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 company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $63.76, for a total value 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 $2,155,151.76. This represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, August 19th, Steven Ratner sold 1,735 shares of Mercury Systems stock. The stock was 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 stock was sold at an average price of $53.48, for a total transaction of $98,349.72.

Mercury Systems Stock Down 1.4%

NASDAQ:MRCY traded down $0.95 during trading hours on Friday, reaching $67.55. The company's stock had a trading volume of 305,785 shares, compared to its average volume of 812,367. The stock has a 50 day moving average price of $56.24 and a two-hundred day moving average price of $50.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.41 and a current ratio of 3.52. The company has a market capitalization of $4.05 billion, a P/E ratio of -102.35, a price-to-earnings-growth ratio of 2.82 and a beta of 0.72. Mercury Systems Inc has a 12 month low of $32.32 and a 12 month high of $69.95.

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

Hedge Funds Weigh In On Mercury Systems

A number of hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of Mercury Systems in the fourth quarter worth about $33,000. Quaker Wealth Management LLC increased its holdings in shares of Mercury Systems by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 644 shares of the technology company's stock worth $35,000 after buying an additional 1,288 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Mercury Systems during the 2nd quarter valued at approximately $43,000. GAMMA Investing LLC lifted its holdings in Mercury Systems by 59.6% in the first quarter. GAMMA Investing LLC now owns 1,058 shares of the technology company's stock valued at $46,000 after acquiring an additional 395 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Mercury Systems by 33.7% in the second quarter. EverSource Wealth Advisors LLC now owns 929 shares of the technology company's stock worth $50,000 after acquiring an additional 234 shares during the period. Institutional investors and hedge funds own 95.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MRCY shares. Royal Bank Of Canada raised their price objective on Mercury Systems from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. Robert W. Baird lifted their target price on shares of Mercury Systems from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. 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. Truist Financial lifted 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. Finally, Zacks Research upgraded Mercury Systems from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.