Principal Financial Group Inc. Has $8.82 Million Stake in Mercury Systems, Inc. (NASDAQ:MRCY)

Principal Financial Group Inc. decreased its holdings in Mercury Systems, Inc. (NASDAQ:MRCY - Free Report) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,368 shares of the technology company's stock after selling 19,499 shares during the quarter. Principal Financial Group Inc. owned approximately 0.40% of Mercury Systems worth $8,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRCY. Westwood Holdings Group Inc. raised its position in shares of Mercury Systems by 14.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,554,166 shares of the technology company's stock valued at $45,848,000 after purchasing an additional 199,600 shares in the last quarter. Roubaix Capital LLC acquired a new stake in shares of Mercury Systems in the second quarter valued at $3,684,000. Jane Street Group LLC lifted its holdings in shares of Mercury Systems by 102.6% in the first quarter. Jane Street Group LLC now owns 257,514 shares of the technology company's stock valued at $7,597,000 after buying an additional 130,396 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Mercury Systems during the second quarter valued at $3,079,000. Finally, Clearline Capital LP lifted its holdings in shares of Mercury Systems by 18.4% during the second quarter. Clearline Capital LP now owns 526,611 shares of the technology company's stock valued at $14,213,000 after purchasing an additional 81,826 shares during the last quarter. Hedge funds and other institutional investors own 95.99% of the company's stock.

Insider Activity

In other news, EVP Steven Ratner sold 3,891 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $38.41, for a total transaction of $149,453.31. Following the transaction, the executive vice president now directly owns 60,079 shares of the company's stock, valued at $2,307,634.39. This represents a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jana Partners Management, Lp bought 13,600 shares of Mercury Systems stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $37.25 per share, for a total transaction of $506,600.00. Following the completion of the acquisition, the director now owns 6,944,633 shares in the company, valued at $258,687,579.25. This represents a 0.20 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 7,330 shares of company stock valued at $281,458 in the last ninety days. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Mercury Systems from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Jefferies Financial Group raised Mercury Systems from an "underperform" rating to a "hold" rating and lifted their target price for the company from $30.00 to $42.00 in a research note on Monday, November 11th. Royal Bank of Canada raised their price target on Mercury Systems from $30.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 14th. Robert W. Baird lifted their target price on Mercury Systems from $26.00 to $37.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Finally, Truist Financial boosted their price target on Mercury Systems from $26.00 to $31.00 and gave the company a "hold" rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $35.50.

Mercury Systems Trading Up 0.5 %

Mercury Systems stock traded up $0.21 during trading hours on Tuesday, hitting $38.94. The company had a trading volume of 98,000 shares, compared to its average volume of 581,998. Mercury Systems, Inc. has a 1 year low of $25.31 and a 1 year high of $44.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.59 and a current ratio of 4.10. The firm has a market cap of $2.32 billion, a P/E ratio of -18.89 and a beta of 0.71. The company has a 50-day moving average price of $36.72 and a two-hundred day moving average price of $33.94.

Mercury Systems Profile

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.