Mercer International (NASDAQ:MERC) Major Shareholder Purchases $364,800.00 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 380,000 shares of Mercer International stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $0.96 per share, with a total value of $364,800.00. Following the completion of the transaction, the insider directly owned 1,852,000 shares of the company’s stock, valued at $1,777,920. This trade represents a 25.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 6.9%

MERC stock opened at $1.04 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 stock has a market capitalization of $69.66 million, a P/E ratio of -0.13 and a beta of 0.53. The business has a 50-day moving average of $1.18 and a 200-day moving average of $1.69. Mercer International Inc. has a fifty-two week low of $0.75 and a fifty-two week 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) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The company had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. On average, sell-side analysts anticipate that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Institutional Trading of Mercer International

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Mercer International by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after buying an additional 14,603 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at approximately $244,000. Millennium Management LLC lifted its position in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares during the last quarter. Jump Financial LLC lifted its position in shares of 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 buying an additional 214,008 shares during the last quarter. Finally, Iat Reinsurance Co. LTD. lifted its position in shares of Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after buying an additional 220,000 shares during the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank Of Canada reduced their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. TD reduced their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research report on Monday, May 11th. Finally, TD Securities cut Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and a consensus target price of $1.85.

Mercer International Company Profile

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.