Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Buys 380,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 380,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $0.96 per share, for a total transaction 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 approximately $1,777,920. This trade represents a 25.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 2.6%

MERC opened at $1.00 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. Mercer International Inc. has a 1-year low of $0.75 and a 1-year high of $4.47. The company has a market capitalization of $66.97 million, a PE ratio of -0.13 and a beta of 0.53. The firm’s 50 day simple moving average is $1.21 and its two-hundred day simple moving average is $1.71.

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

Analyst Ratings Changes

MERC has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. TD reduced 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. Royal Bank Of Canada reduced 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 research note on Monday, May 11th. TD Cowen cut shares of Mercer International from a “hold” rating to a “sell” rating and increased their price objective for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. Finally, TD Securities cut shares of Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Mercer International presently has a consensus rating of “Strong Sell” and a consensus price target of $1.85.

Hedge Funds Weigh In On Mercer International

Several institutional investors have recently bought and sold shares of MERC. Gamco Investors INC. ET AL purchased a new position in Mercer International during the second quarter valued at $244,000. Jump Financial LLC grew its stake in Mercer International by 340.6% during 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 in the last quarter. Geode Capital Management LLC grew its stake in Mercer International by 2.7% during 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 acquiring an additional 14,603 shares in the last quarter. Gabelli Funds LLC purchased a new position in Mercer International during the second quarter valued at $1,804,000. Finally, Millennium Management LLC grew its stake 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 valued at $2,866,000 after acquiring an additional 137,906 shares in the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

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.