Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 6,822 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 6,822 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was acquired at an average cost of $2.79 per share, with a total value of $19,033.38. Following the transaction, the insider directly owned 866,822 shares of the company’s stock, valued at approximately $2,418,433.38. This represents a 0.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

Shares of Mercer International stock opened at $1.83 on Wednesday. Mercer International Inc. has a twelve month low of $1.48 and a twelve month high of $8.28. The stock 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 current ratio of 3.01, a quick ratio of 1.68 and a debt-to-equity ratio of 4.30. The company has a fifty day moving average price of $2.13 and a 200 day moving average price 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.08). The company had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%. Equities research analysts forecast that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercer International

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 valued at $2,866,000 after acquiring an additional 137,906 shares during the period. Iat Reinsurance Co. LTD. boosted its holdings in Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after buying an additional 220,000 shares in the last quarter. Gabelli Funds LLC acquired a new position in Mercer International in the second quarter worth approximately $1,804,000. Gamco Investors INC. ET AL bought a new position in shares of Mercer International in the second quarter valued at $244,000. Finally, Jump Financial LLC lifted its position in shares of 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 during the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MERC. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Monday. Royal Bank Of Canada cut 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. Four investment 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 stock presently has an average rating of “Reduce” and an average target price of $3.50.

About Mercer International

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.