Principal Financial Group Inc. Boosts Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Principal Financial Group Inc. raised its position in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,880 shares of the technology company's stock after buying an additional 7,512 shares during the quarter. Principal Financial Group Inc. owned about 0.41% of Mercury Systems worth $10,327,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Mercury Systems by 43.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,668 shares of the technology company's stock worth $62,000 after buying an additional 503 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Mercury Systems by 41.2% in the 3rd quarter. Covestor Ltd now owns 2,124 shares of the technology company's stock worth $78,000 after acquiring an additional 620 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Mercury Systems by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,826 shares of the technology company's stock valued at $217,000 after purchasing an additional 695 shares during the last quarter. KBC Group NV boosted its position in Mercury Systems by 49.4% during the fourth quarter. KBC Group NV now owns 2,496 shares of the technology company's stock valued at $105,000 after buying an additional 825 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Mercury Systems by 0.8% in the third quarter. King Luther Capital Management Corp now owns 109,045 shares of the technology company's stock worth $4,035,000 after buying an additional 868 shares during the period. 95.99% of the stock is owned by hedge funds and other institutional investors.

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Mercury Systems Stock Performance

NASDAQ:MRCY traded up $0.07 during mid-day trading on Tuesday, hitting $43.68. 139,898 shares of the company traded hands, compared to its average volume of 530,576. The stock's fifty day moving average price is $43.17 and its 200-day moving average price is $39.60. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. Mercury Systems, Inc. has a one year low of $26.48 and a one year high of $52.25. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -28.00 and a beta of 0.79.

Mercury Systems (NASDAQ:MRCY - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.04). Mercury Systems had a negative return on equity of 2.03% and a negative net margin of 10.23%. Research analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRCY has been the subject of several analyst reports. Truist Financial increased their target price on Mercury Systems from $35.00 to $44.00 and gave the company a "hold" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on shares of Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Baird R W upgraded shares of Mercury Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. StockNews.com raised shares of Mercury Systems from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group raised their target price on Mercury Systems from $25.00 to $28.00 and gave the stock a "sell" rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $42.14.

Insider Activity at Mercury Systems

In related news, CAO Douglas Munro sold 595 shares of Mercury Systems stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $44.12, for a total value of $26,251.40. Following the completion of the transaction, the chief accounting officer now owns 14,572 shares in the company, valued at approximately $642,916.64. This trade represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Roger Iv Wells sold 2,342 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $44.12, for a total value of $103,329.04. Following the sale, the chief operating officer now owns 95,928 shares in the company, valued at approximately $4,232,343.36. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,314 shares of company stock valued at $234,454. Insiders own 1.60% of the company's stock.

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.