Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 200,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 200,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $0.88 per share, for a total transaction of $176,000.00. Following the completion of the purchase, the insider directly owned 1,257,000 shares of the company’s stock, valued at approximately $1,106,160. The trade was a 18.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of NASDAQ:MERC opened at $0.94 on Friday. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The business’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.74. The firm has a market capitalization of $62.96 million, a PE ratio of -0.12 and a beta of 0.53. Mercer International Inc. has a 1 year low of $0.75 and a 1 year high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). The firm had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. As a group, equities research analysts expect that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

MERC has been the topic of a number of research analyst reports. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and lifted their price target for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. TD lowered their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Monday, May 11th. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. Finally, Royal Bank Of Canada lowered their price objective on Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Hedge Funds Weigh In On Mercer International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MERC. Gamco Investors INC. ET AL acquired a new position in Mercer International during the second quarter worth $244,000. Jump Financial LLC boosted its stake in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares during the last quarter. Geode Capital Management LLC boosted its stake in Mercer International by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after buying an additional 14,603 shares during the last quarter. Gabelli Funds LLC acquired a new position in Mercer International during the second quarter worth $1,804,000. Finally, Millennium Management LLC boosted its stake in Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after buying an additional 137,906 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

About Mercer International

Mercer International Inc is a publicly traded pulp producer headquartered in Vancouver, British Columbia. Listed on the NASDAQ under the symbol MERC, the company specializes in the manufacture of Northern Bleached Softwood Kraft (NBSK) pulp and dissolving pulp for use in tissue, specialty paper and textile applications.

Mercer’s core business activities include the operation of integrated pulp mills in North America and Europe. Its production portfolio encompasses NBSK pulp, renowned for its strength and versatility, and dissolving pulp, which serves as a key raw material in the manufacture of viscose, cellulose acetate and other specialty products.

The company’s facilities are located in British Columbia and the U.S.