Mercer International (NASDAQ:MERC) Major Shareholder Acquires $120,726.32 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 49,478 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average price of $2.44 per share, for a total transaction of $120,726.32. Following the purchase, the insider owned 916,300 shares in the company, valued at approximately $2,235,772. This represents a 5.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

Shares of NASDAQ MERC remained flat at $1.83 during midday trading on Tuesday. 494,305 shares of the stock traded hands, compared to its average volume of 515,128. Mercer International Inc. has a 1-year low of $1.48 and a 1-year high of $8.28. The firm has a market cap of $122.57 million, a price-to-earnings ratio of -0.71 and a beta of 0.76. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01. The business has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.94.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data 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). The firm had revenue of $458.07 million during the quarter, compared to the consensus estimate of $482.70 million. Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. As a group, research analysts predict that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP grew its holdings in shares of Mercer International by 943.3% during the first quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock valued at $126,000 after buying an additional 18,508 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Mercer International during the 2nd quarter worth about $244,000. Jump Financial LLC grew its stake in Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after acquiring an additional 214,008 shares in the last quarter. Gabelli Funds LLC purchased a new position in Mercer International in the second quarter valued at about $1,804,000. Finally, Millennium Management LLC increased its position in Mercer International by 16.1% in 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 during the last quarter. 85.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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