Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Acquires 295,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 295,000 shares of Mercer International stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $498,550.00. Following the transaction, the insider owned 1,520,000 shares in the company, valued at approximately $2,568,800. This trade represents a 24.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Mercer International stock remained flat at $1.83 during mid-day trading on Tuesday. The company had a trading volume of 494,305 shares, compared to its average volume of 515,128. The business has a 50-day moving average price of $2.13 and a two-hundred day moving average price of $2.94. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. The firm has a market cap of $122.57 million, a price-to-earnings ratio of -0.71 and a beta of 0.76. Mercer International Inc. has a 52 week low of $1.48 and a 52 week high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.08). Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%.The company had revenue of $458.07 million for the quarter, compared to analysts’ expectations of $482.70 million. On average, equities analysts expect that Mercer International Inc. will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Mercer International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its stake in shares of Mercer International by 943.3% in the first quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 18,508 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at $244,000. Jump Financial LLC boosted its holdings in Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after purchasing an additional 214,008 shares during the period. Gabelli Funds LLC acquired a new position in Mercer International during the 2nd quarter worth $1,804,000. Finally, Millennium Management LLC grew its stake in Mercer International by 16.1% during the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MERC shares. Royal Bank Of Canada decreased their price target on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 1st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.50.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.