Peter Kellogg Acquires 97,938 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 97,938 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average cost of $1.90 per share, with a total value of $186,082.20. Following the purchase, the insider owned 1,134,540 shares of the company’s stock, valued at $2,155,626. This represents a 9.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC stock remained flat at $1.83 on Tuesday. The stock had a trading volume of 494,305 shares, compared to its average volume of 515,128. 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’s fifty day moving average price is $2.13 and its 200-day moving average price is $2.94. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01. Mercer International Inc. has a 12 month low of $1.48 and a 12 month high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results 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). Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. The company had revenue of $458.07 million during the quarter, compared to analysts’ expectations of $482.70 million. Equities research analysts predict that Mercer International Inc. will post -0.29 EPS for the current year.

Institutional Trading of Mercer International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC bought a new stake in shares of Mercer International in the second quarter valued at about $1,804,000. Iat Reinsurance Co. LTD. raised its stake in 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. Jump Financial LLC boosted 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 worth $969,000 after purchasing an additional 214,008 shares in the last quarter. Millennium Management LLC increased 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 acquiring an additional 137,906 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Mercer International in the second quarter worth about $244,000. 85.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MERC has been the topic of several recent analyst reports. Royal Bank Of Canada cut their target price 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. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 1st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $3.50.

Mercer International Company Profile

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.