WCM Investment Management LLC Has $9.70 Million Holdings in Firefly Aerospace, Inc. $FLY

WCM Investment Management LLC decreased its holdings in Firefly Aerospace, Inc. (NASDAQ:FLY) by 50.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,730 shares of the company’s stock after selling 340,611 shares during the period. WCM Investment Management LLC’s holdings in Firefly Aerospace were worth $9,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FLY. Vanguard Group Inc. bought a new position in shares of Firefly Aerospace during the 3rd quarter worth approximately $53,409,000. UBS Group AG raised its stake in Firefly Aerospace by 233.6% in the 4th quarter. UBS Group AG now owns 1,773,607 shares of the company’s stock valued at $39,676,000 after acquiring an additional 1,241,987 shares during the period. Temasek Holdings Private Ltd lifted its holdings in Firefly Aerospace by 151.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 1,069,588 shares of the company’s stock valued at $23,927,000 after purchasing an additional 643,886 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Firefly Aerospace during the 3rd quarter valued at $19,471,000. Finally, Phoenix Financial Ltd. boosted its position in Firefly Aerospace by 33.8% during the fourth quarter. Phoenix Financial Ltd. now owns 660,060 shares of the company’s stock worth $14,765,000 after purchasing an additional 166,599 shares during the period.

Firefly Aerospace Stock Performance

NASDAQ FLY opened at $19.67 on Tuesday. The firm has a 50-day moving average price of $34.20 and a two-hundred day moving average price of $30.18. Firefly Aerospace, Inc. has a 12-month low of $16.00 and a 12-month high of $73.80. The company has a market capitalization of $3.15 billion and a P/E ratio of -2.41. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.02.

Firefly Aerospace (NASDAQ:FLY) last announced its earnings results on Monday, May 4th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. Firefly Aerospace had a negative net margin of 181.16% and a negative return on equity of 40.96%. The company had revenue of $80.88 million for the quarter. During the same period in the prior year, the business posted ($5.09) earnings per share. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. Analysts anticipate that Firefly Aerospace, Inc. will post -1.97 earnings per share for the current year.

Insider Transactions at Firefly Aerospace

In other Firefly Aerospace news, General Counsel David Leigh Wheeler sold 3,765 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $45.12, for a total transaction of $169,876.80. Following the transaction, the general counsel owned 142,758 shares in the company, valued at $6,441,240.96. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FLY shares. Weiss Ratings raised shares of Firefly Aerospace from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 25th. Morgan Stanley lifted their target price on shares of Firefly Aerospace from $33.00 to $37.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Firefly Aerospace from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 7th. KeyCorp upgraded shares of Firefly Aerospace from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a research report on Monday, June 15th. Finally, B. Riley Financial began coverage on Firefly Aerospace in a report on Wednesday, May 6th. They set a “buy” rating and a $60.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.20.

About Firefly Aerospace

Firefly Aerospace (NASDAQ:FLY) is a U.S.-based aerospace company that designs, manufactures and operates launch vehicles and in-space systems for commercial, civil and national security customers. The company focuses on providing end-to-end small- and medium-lift launch services, mission integration and spacecraft hardware to support satellite deployment and on-orbit operations.

Firefly’s product portfolio includes the Alpha small launch vehicle, developed to carry small satellites to low Earth orbit, and plans for larger vehicles and in-space capabilities to address a range of payload sizes and mission profiles.