WCM Investment Management LLC Decreases Stake in Mercury Systems Inc $MRCY

Key Points

• WCM Investment Management cut its stake in Mercury Systems by 17.2% in the first quarter, selling 45,565 shares and ending with 219,324 shares valued at about $15.3 million.
• Other institutional investors were mixed on the stock: Goldman Sachs and Jane Street significantly increased holdings, while hedge funds and other institutions still own 95.99% of Mercury Systems.
• Mercury Systems recently beat earnings expectations, reporting $0.27 EPS versus a $0.06 estimate and revenue of $235.76 million, while analysts currently rate the stock a Moderate Buy with an average price target of $95.78.

WCM Investment Management LLC lessened its holdings in shares of Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,324 shares of the technology company's stock after selling 45,565 shares during the quarter. WCM Investment Management LLC owned approximately 0.37% of Mercury Systems worth $15,322,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MRCY. AQR Capital Management LLC acquired a new stake in shares of Mercury Systems in the first quarter valued at about $755,000. Goldman Sachs Group Inc. grew its stake in Mercury Systems by 51.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 855,441 shares of the technology company's stock valued at $36,861,000 after acquiring an additional 290,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Mercury Systems by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,617 shares of the technology company's stock valued at $6,878,000 after acquiring an additional 18,916 shares during the last quarter. Jane Street Group LLC raised its holdings in Mercury Systems by 161.3% in the 1st quarter. Jane Street Group LLC now owns 50,769 shares of the technology company's stock valued at $2,188,000 after acquiring an additional 31,337 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Mercury Systems by 30.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 124,973 shares of the technology company's stock worth $6,731,000 after purchasing an additional 29,057 shares in the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MRCY. Wall Street Zen cut Mercury Systems from a "buy" rating to a "hold" rating in a report on Saturday. Canaccord Genuity Group increased their price target on Mercury Systems from $102.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Mercury Systems in a research report on Tuesday, April 21st. Truist Financial upgraded Mercury Systems to a "strong-buy" rating in a research report on Friday, May 1st. Finally, Zacks Research raised Mercury Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $95.78.

Insider Activity at Mercury Systems

In other news, EVP Steven Ratner sold 2,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $92.46, for a total value of $184,920.00. Following the transaction, the executive vice president owned 32,238 shares of the company's stock, valued at $2,980,725.48. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Howard L. Lance sold 9,250 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $99.76, for a total value of $922,780.00. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,250 shares of company stock worth $1,733,220. Insiders own 1.40% of the company's stock.

Mercury Systems Price Performance

Shares of MRCY stock opened at $94.73 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.19 and a quick ratio of 2.15. The firm's 50-day moving average is $107.55 and its two-hundred day moving average is $93.08. Mercury Systems Inc has a 12 month low of $50.13 and a 12 month high of $128.45. The company has a market capitalization of $5.69 billion, a PE ratio of -394.71 and a beta of 0.93.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $235.76 million for the quarter, compared to analyst estimates of $208.56 million. Mercury Systems had a negative net margin of 1.46% and a positive return on equity of 2.22%. Mercury Systems's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. Analysts predict that Mercury Systems Inc will post 0.35 earnings per share for the current year.

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.

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