WCM Investment Management LLC Trims Holdings in Mercury Systems Inc $MRCY

WCM Investment Management LLC reduced its stake in Mercury Systems Inc (NASDAQ:MRCY) by 17.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 219,324 shares of the technology company’s stock after selling 45,565 shares during the quarter. WCM Investment Management LLC’s holdings in Mercury Systems were worth $15,322,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its stake in Mercury Systems by 161.7% during the third quarter. Invesco Ltd. now owns 1,527,443 shares of the technology company’s stock worth $118,224,000 after purchasing an additional 943,736 shares in the last quarter. State Street Corp grew its stake in shares of Mercury Systems by 12.1% in the fourth quarter. State Street Corp now owns 3,423,600 shares of the technology company’s stock valued at $249,957,000 after buying an additional 368,242 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Mercury Systems by 51.6% in the first quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company’s stock valued at $36,861,000 after buying an additional 290,989 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Mercury Systems by 22,232.9% in the 1st quarter. Fifth Third Bancorp now owns 267,101 shares of the technology company’s stock valued at $19,474,000 after buying an additional 265,905 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Mercury Systems by 52.9% in the 1st quarter. Jennison Associates LLC now owns 688,114 shares of the technology company’s stock valued at $50,170,000 after buying an additional 238,147 shares during the period. Institutional investors and hedge funds own 95.99% of the company’s stock.

Insider Buying and Selling at Mercury Systems

In related news, EVP Steven Ratner sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.46, for a total transaction of $184,920.00. Following the sale, the executive vice president directly owned 32,238 shares in the company, valued at approximately $2,980,725.48. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orlando D. Carvalho sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $89.36, for a total transaction of $625,520.00. Following the sale, the director owned 52,448 shares in the company, valued at $4,686,753.28. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,250 shares of company stock valued at $1,733,220 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Mercury Systems Stock Down 1.4%

Mercury Systems stock opened at $94.73 on Tuesday. The firm has a market capitalization of $5.69 billion, a P/E ratio of -394.71 and a beta of 0.93. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a twelve month low of $50.13 and a twelve month high of $128.45. The stock’s fifty day simple moving average is $107.55 and its 200-day simple moving average is $93.08.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Mercury Systems had a positive return on equity of 2.22% and a negative net margin of 1.46%.The firm had revenue of $235.76 million during the quarter, compared to analyst estimates of $208.56 million. During the same period last year, the business posted $0.06 earnings per share. Mercury Systems’s revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts expect that Mercury Systems Inc will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MRCY. Wall Street Zen lowered Mercury Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Truist Financial upgraded shares of Mercury Systems to a “strong-buy” rating in a research note on Friday, May 1st. The Goldman Sachs Group increased their price target on shares of Mercury Systems from $60.00 to $68.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Mercury Systems from $99.00 to $101.00 and gave the company a “neutral” rating in a research note on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.78.

Mercury Systems Company Profile

Mercury Systems, Inc (NASDAQ: MRCY) is a technology company that designs, manufactures and markets secure processing subsystems for aerospace and defense applications. The company’s products are built to address the stringent security, safety and reliability requirements of mission-critical programs, with a focus on radar, electronic warfare, intelligence and other sensor and processing functions. Mercury’s offerings encompass rugged embedded computing modules, high-performance radio frequency (RF) and microwave components, digital signal processing subsystems and secure networking solutions.

Since its origins in advanced signal processing, Mercury Systems has expanded its capabilities through a combination of internal development and targeted acquisitions.