Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 23,637 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 23,637 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $0.79 per share, with a total value of $18,673.23. Following the purchase, the insider directly owned 1,162,231 shares in the company, valued at approximately $918,162.49. This trade represents a 2.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC stock opened at $0.65 on Thursday. The firm has a market cap of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52. The stock’s 50-day moving average is $0.88 and its two-hundred day moving average is $1.47. Mercer International Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $4.47. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC acquired a new position in Mercer International during the 2nd quarter worth $1,804,000. Jump Financial LLC increased its stake in Mercer International by 340.6% in the 2nd 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. Millennium Management LLC raised its position 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 acquiring an additional 137,906 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International in the 2nd quarter valued at about $244,000. Finally, Geode Capital Management LLC raised its stake in 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 period. Institutional investors and hedge funds own 85.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MERC. Royal Bank Of Canada decreased their price objective on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Finally, TD dropped their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company 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. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $1.85.

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.