Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 36,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 36,000 shares of the stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $2.07 per share, with a total value of $74,520.00. Following the completion of the acquisition, the insider owned 646,000 shares in the company, valued at approximately $1,337,220. This trade represents a 5.90% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

MERC remained flat at $1.83 on Tuesday. 494,305 shares of the company traded hands, compared to its average volume of 515,128. The stock’s 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $2.94. Mercer International Inc. has a 12-month low of $1.48 and a 12-month high of $8.28. 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 stock has a market cap of $122.57 million, a price-to-earnings ratio of -0.71 and a beta of 0.76.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share 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 net margin of 9.04% and a negative return on equity of 37.38%. On average, analysts predict that Mercer International Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 1st. Royal Bank Of Canada cut their price target on shares of 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 research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mercer International currently has an average rating of “Reduce” and an average price target of $3.50.

Hedge Funds Weigh In On Mercer International

Several hedge funds have recently added to or reduced their stakes in MERC. Iat Reinsurance Co. LTD. raised 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 purchasing an additional 220,000 shares in the last quarter. Millennium Management LLC grew its position in shares of 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 buying an additional 137,906 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Mercer International during the 2nd quarter worth $1,804,000. Jump Financial LLC lifted its position in 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 acquiring an additional 214,008 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Mercer International in the second quarter valued at $244,000. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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.