WCM Investment Management LLC Sells 87,469 Shares of Mercury Systems Inc $MRCY

WCM Investment Management LLC reduced its stake in Mercury Systems Inc (NASDAQ:MRCY) by 19.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 354,684 shares of the technology company’s stock after selling 87,469 shares during the quarter. WCM Investment Management LLC’s holdings in Mercury Systems were worth $18,944,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Bayforest Capital Ltd bought a new stake in shares of Mercury Systems in the second quarter valued at approximately $799,000. TD Asset Management Inc bought a new stake in shares of Mercury Systems in the second quarter valued at approximately $631,000. Verdence Capital Advisors LLC bought a new stake in shares of Mercury Systems in the second quarter valued at approximately $236,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Mercury Systems in the second quarter valued at approximately $9,068,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Mercury Systems by 4.7% in the second quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the technology company’s stock valued at $598,000 after buying an additional 500 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MRCY shares. Canaccord Genuity Group started coverage on Mercury Systems in a research note on Thursday, October 2nd. They issued a “buy” rating and a $88.00 price target for the company. Robert W. Baird upped their target price on Mercury Systems from $58.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Truist Financial upped their target price on Mercury Systems from $71.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada upgraded Mercury Systems from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 1st. Finally, Zacks Research cut Mercury Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.89.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $65.42, for a total value of $52,139,740.00. Following the completion of the transaction, the director directly owned 5,964,313 shares in the company, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Ballhaus sold 13,050 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $841,203.00. Following the completion of the transaction, the chief executive officer owned 374,976 shares of the company’s stock, valued at $24,170,952.96. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 848,980 shares of company stock worth $55,529,247 in the last ninety days. Insiders own 1.40% of the company’s stock.

Mercury Systems Stock Up 0.5%

Shares of MRCY opened at $78.15 on Thursday. Mercury Systems Inc has a 52 week low of $32.32 and a 52 week high of $85.33. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of -118.41, a PEG ratio of 3.23 and a beta of 0.82. 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 stock has a fifty day moving average of $71.59 and a 200-day moving average of $57.11.

Mercury Systems (NASDAQ:MRCY) last announced its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.64 EPS for the quarter. Mercury Systems had a positive return on equity of 0.58% and a negative net margin of 4.16%.The company had revenue of $256.86 million during the quarter. As a group, sell-side analysts anticipate that Mercury Systems Inc will post -0.08 earnings per share for the current fiscal year.

Mercury Systems 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.