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

Key Points

• WCM Investment Management LLC has reduced its stake in Mercury Systems Inc by 19.8%, selling 87,469 shares during the 2nd quarter, leaving them with 354,684 shares valued at approximately $18.94 million.
• Insider trading activity included Director Jana Partners Management selling 797,000 shares for over $52 million, representing an 11.79% decrease in their ownership.
• Mercury Systems has seen varying analyst ratings, with some upgrades and downgrades, leading to an average rating of "Moderate Buy" and a consensus price target of $73.89.

WCM Investment Management LLC reduced its stake in Mercury Systems Inc (NASDAQ:MRCY - Free Report) by 19.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,684 shares of the technology company's stock after selling 87,469 shares during the period. WCM Investment Management LLC owned 0.59% of Mercury Systems worth $18,944,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Mercury Systems by 25.0% during the second quarter. GAMMA Investing LLC now owns 1,322 shares of the technology company's stock worth $71,000 after acquiring an additional 264 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Mercury Systems by 4.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,763 shares of the technology company's stock valued at $507,000 after purchasing an additional 449 shares during the period. Fifth Third Bancorp raised its stake in shares of Mercury Systems by 53.8% in the 1st quarter. Fifth Third Bancorp now owns 1,290 shares of the technology company's stock valued at $56,000 after purchasing an additional 451 shares during the period. KLP Kapitalforvaltning AS raised its stake in shares of Mercury Systems by 4.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the technology company's stock valued at $598,000 after purchasing an additional 500 shares during the period. Finally, US Bancorp DE raised its stake in shares of Mercury Systems by 43.0% in the 1st quarter. US Bancorp DE now owns 2,489 shares of the technology company's stock valued at $107,000 after purchasing an additional 749 shares during the period. 95.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jana Partners Management, Lp sold 797,000 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 5,964,313 shares of the company's stock, valued at approximately $390,185,356.46. This represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David E. Farnsworth sold 7,572 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $64.46, for a total value of $488,091.12. Following the completion of the transaction, the executive vice president directly owned 161,326 shares in the company, valued at $10,399,073.96. The trade was a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 848,980 shares of company stock valued at $55,529,247 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Mercury Systems Price Performance

Shares of NASDAQ MRCY opened at $78.15 on Thursday. The business's 50 day moving average price is $71.59 and its two-hundred day moving average price is $57.11. The company has a market cap of $4.69 billion, a PE ratio of -118.41, a price-to-earnings-growth ratio of 3.23 and a beta of 0.82. The company has a quick ratio of 2.41, a current ratio of 3.52 and a debt-to-equity ratio of 0.40. Mercury Systems Inc has a twelve month low of $32.32 and a twelve month high of $85.33.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MRCY. Zacks Research downgraded Mercury Systems from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Royal Bank Of Canada raised Mercury Systems from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, October 1st. Truist Financial upped their target price on Mercury Systems from $71.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday. Wall Street Zen lowered Mercury Systems from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Finally, Canaccord Genuity Group began coverage on Mercury Systems in a report on Thursday, October 2nd. They set a "buy" rating and a $88.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $73.89.

About Mercury Systems

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.

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