Investors Buy Large Volume of Put Options on Mercury Systems (MRCY)

Mercury Systems Inc (NASDAQ:MRCY) saw unusually large options trading on Thursday. Investors purchased 860 put options on the company. This is an increase of 1,333% compared to the average volume of 60 put options.

Mercury Systems (MRCY) opened at $50.55 on Friday. Mercury Systems has a 52 week low of $30.80 and a 52 week high of $55.00. The company has a market capitalization of $2,472.86, a PE ratio of 58.78, a price-to-earnings-growth ratio of 4.43 and a beta of 0.23.

Mercury Systems (NASDAQ:MRCY) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.11. Mercury Systems had a return on equity of 6.51% and a net margin of 9.14%. The firm had revenue of $106.10 million for the quarter, compared to the consensus estimate of $105.18 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. sell-side analysts forecast that Mercury Systems will post 1.09 earnings per share for the current fiscal year.

MRCY has been the topic of several recent analyst reports. Zacks Investment Research raised Mercury Systems from a “hold” rating to a “strong-buy” rating and set a $59.00 price target on the stock in a research report on Thursday, January 11th. SunTrust Banks reissued a “buy” rating and set a $51.00 price target on shares of Mercury Systems in a research report on Monday, October 2nd. Noble Financial reissued a “hold” rating on shares of Mercury Systems in a research report on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and set a $48.00 price target on shares of Mercury Systems in a research report on Tuesday, October 24th. Finally, BidaskClub raised Mercury Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.33.

In related news, CEO Mark Aslett sold 4,800 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $49.92, for a total transaction of $239,616.00. Following the transaction, the chief executive officer now directly owns 509,782 shares of the company’s stock, valued at $25,448,317.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vincent Vitto sold 8,500 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $52.04, for a total value of $442,340.00. Following the transaction, the director now directly owns 79,539 shares in the company, valued at $4,139,209.56. The disclosure for this sale can be found here. Insiders have sold 65,800 shares of company stock worth $3,351,345 over the last ninety days. 3.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. grew its stake in Mercury Systems by 97.8% in the third quarter. Advisor Group Inc. now owns 2,556 shares of the technology company’s stock valued at $132,000 after purchasing an additional 1,264 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Mercury Systems by 5.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,114 shares of the technology company’s stock valued at $173,000 after purchasing an additional 195 shares in the last quarter. Shelton Capital Management purchased a new position in Mercury Systems in the second quarter valued at about $200,000. Flinton Capital Management LLC grew its stake in Mercury Systems by 72.3% in the second quarter. Flinton Capital Management LLC now owns 4,862 shares of the technology company’s stock valued at $205,000 after purchasing an additional 2,040 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in Mercury Systems by 74.9% in the second quarter. Riverhead Capital Management LLC now owns 4,897 shares of the technology company’s stock valued at $206,000 after purchasing an additional 2,097 shares in the last quarter. Hedge funds and other institutional investors own 96.28% of the company’s stock.

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Mercury Systems Company Profile

Mercury Systems, Inc is a commercial provider of secure processing subsystems designed and made in the United States. The Company’s solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components.

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