Peter Kellogg Buys 23,637 Shares of Mercer International (NASDAQ:MERC) Stock

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

Mercer International Stock Performance

MERC opened at $0.60 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The firm has a market cap of $40.29 million, a PE ratio of -0.08 and a beta of 0.52. The business has a fifty day simple moving average of $0.87 and a 200-day simple moving average of $1.46. Mercer International Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its 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). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The company had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. As a group, equities analysts predict that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MERC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Royal Bank Of Canada dropped their target price on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research report on Monday, May 11th. TD dropped their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Trading of Mercer International

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew 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 purchasing an additional 14,603 shares in the last quarter. Millennium Management LLC increased its position in Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Gabelli Funds LLC purchased a new stake in shares of Mercer International during the 2nd quarter worth about $1,804,000. Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International during the 2nd quarter worth about $244,000. Finally, Jump Financial LLC lifted its holdings in shares of Mercer International by 340.6% during 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. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

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.