WCM Investment Management LLC lessened its stake in Mercury Systems Inc (NASDAQ:MRCY) by 33.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,287 shares of the technology company’s stock after selling 8,810 shares during the period. WCM Investment Management LLC’s holdings in Mercury Systems were worth $1,216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Mercury Systems in the first quarter valued at about $106,000. NumerixS Investment Technologies Inc bought a new stake in shares of Mercury Systems in the first quarter valued at about $128,000. NEXT Financial Group Inc bought a new stake in shares of Mercury Systems in the second quarter valued at about $170,000. Meitav Dash Investments Ltd. bought a new stake in shares of Mercury Systems in the first quarter valued at about $203,000. Finally, Strs Ohio lifted its stake in shares of Mercury Systems by 43.5% in the first quarter. Strs Ohio now owns 3,300 shares of the technology company’s stock valued at $211,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.
Several equities research analysts recently weighed in on MRCY shares. Goldman Sachs Group started coverage on shares of Mercury Systems in a research note on Friday, August 16th. They issued a “neutral” rating and a $75.00 target price for the company. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 target price (up previously from $64.00) on shares of Mercury Systems in a research note on Friday, April 26th. Zacks Investment Research upgraded shares of Mercury Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Alembic Global Advisors upgraded shares of Mercury Systems from a “neutral” rating to an “overweight” rating in a research note on Wednesday, May 1st. Finally, Bank of America upgraded shares of Mercury Systems from an “underperform” rating to a “neutral” rating and increased their target price for the company from $50.00 to $85.00 in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Mercury Systems presently has a consensus rating of “Buy” and a consensus target price of $73.50.
Mercury Systems (NASDAQ:MRCY) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.11. Mercury Systems had a net margin of 7.14% and a return on equity of 8.11%. The firm had revenue of $176.96 million during the quarter, compared to analyst estimates of $171.98 million. During the same quarter in the prior year, the business posted $0.47 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts expect that Mercury Systems Inc will post 1.72 EPS for the current year.
In other news, CAO Michelle M. Mccarthy sold 624 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $84.99, for a total transaction of $53,033.76. Following the completion of the sale, the chief accounting officer now owns 10,982 shares of the company’s stock, valued at $933,360.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christopher C. Cambria sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $88.61, for a total transaction of $886,100.00. Following the sale, the executive vice president now directly owns 67,152 shares of the company’s stock, valued at approximately $5,950,338.72. The disclosure for this sale can be found here. Insiders sold 30,624 shares of company stock valued at $2,282,334 in the last three months. Company insiders own 2.80% of the company’s stock.
Mercury Systems Profile
Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.
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