Principal Financial Group Inc. Purchases 7,512 Shares of Mercury Systems, Inc. (NASDAQ:MRCY)

Principal Financial Group Inc. increased its position in Mercury Systems, Inc. (NASDAQ:MRCY) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,880 shares of the technology company’s stock after purchasing an additional 7,512 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Mercury Systems worth $10,327,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRCY. Conestoga Capital Advisors LLC raised its position in Mercury Systems by 55.9% in the 4th quarter. Conestoga Capital Advisors LLC now owns 2,072,817 shares of the technology company’s stock worth $87,058,000 after buying an additional 743,552 shares during the last quarter. Barclays PLC raised its position in Mercury Systems by 471.3% in the 3rd quarter. Barclays PLC now owns 175,562 shares of the technology company’s stock worth $6,496,000 after buying an additional 144,831 shares during the last quarter. Van ECK Associates Corp raised its position in Mercury Systems by 35.1% in the 4th quarter. Van ECK Associates Corp now owns 297,109 shares of the technology company’s stock worth $12,479,000 after buying an additional 77,254 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Mercury Systems in the 3rd quarter worth about $2,831,000. Finally, Bouvel Investment Partners LLC purchased a new position in Mercury Systems in the 4th quarter worth about $1,307,000. Institutional investors own 95.99% of the company’s stock.

Insider Buying and Selling

In other Mercury Systems news, CAO Douglas Munro sold 595 shares of the company’s stock in a transaction that occurred on 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 directly owns 14,572 shares in the company, valued at $642,916.64. This represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $44.12, for a total value of $103,329.04. Following the completion of the transaction, the chief operating officer now owns 95,928 shares of the company’s stock, valued at $4,232,343.36. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,314 shares of company stock valued at $234,454. 1.60% of the stock is owned by corporate insiders.

Mercury Systems Price Performance

NASDAQ MRCY opened at $44.41 on Friday. Mercury Systems, Inc. has a 52 week low of $26.48 and a 52 week high of $52.25. The firm has a market capitalization of $2.65 billion, a P/E ratio of -28.47 and a beta of 0.79. The company has a quick ratio of 2.36, a current ratio of 3.62 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $43.11 and a 200-day moving average price of $39.54.

Mercury Systems (NASDAQ:MRCY) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that Mercury Systems, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MRCY. Robert W. Baird raised Mercury Systems from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $37.00 to $58.00 in a research report on Wednesday, February 5th. Truist Financial boosted their target price on Mercury Systems from $35.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. StockNews.com raised Mercury Systems from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Jefferies Financial Group raised shares of Mercury Systems from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $42.00 in a research report on Monday, November 11th. Finally, Baird R W raised shares of Mercury Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.14.

Mercury Systems Company 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.