Jana Partners Calls For Sale Of Mercury Systems

Activist investor firm Jana Partners has taken a ~6.6% stake in Mercury Systems Inc MRCY for a purchase price of ~$181.1 million.
Jana Partners believes that Mercury Systems stock is undervalued and plans to meet with management and the board to discuss ideas to improve shareholder value by evaluating strategic alternatives, including a sale.
Mercury Systems' shares have fallen around 42% year-to-date.
In a conference call last month, Mercury Systems' CEO Mark Aslett stated that the business continues to be impacted by the resolution of the federal defense budget, the impacts of COVID vaccine mandates, and supply chain issues in the semiconductor industry.
Price Action: MRCY shares are trading higher by 8.91% at $55.23 on the last check Thursday.

Momentum92.44

Growth1.32

Quality-

Value50.68

Short

Medium

Long