Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 105,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 105,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $0.97 per share, with a total value of $101,850.00. Following the completion of the transaction, the insider directly owned 1,957,000 shares of the company’s stock, valued at $1,898,290. The trade was a 5.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 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. The company has a market capitalization of $66.97 million, a price-to-earnings ratio of -0.13 and a beta of 0.53. The stock has a 50 day moving average of $1.21 and a 200 day moving average of $1.71. Mercer International Inc. has a 12 month low of $0.75 and a 12 month high of $4.47.

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

Hedge Funds Weigh In On Mercer International

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of 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 worth $1,111,000 after acquiring an additional 14,603 shares during the period. Millennium Management LLC boosted its holdings in shares of Mercer International by 16.1% in 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 during the period. Iat Reinsurance Co. LTD. boosted its holdings in shares of 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 worth $48,096,000 after acquiring an additional 220,000 shares during the period. Gabelli Funds LLC bought a new position in shares of Mercer International in the second quarter worth $1,804,000. Finally, Gamco Investors INC. ET AL bought a new position in shares of Mercer International in the second quarter worth $244,000. 85.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MERC. TD reduced their price objective on Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a report on Monday, May 11th. TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and increased their price objective for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Royal Bank Of Canada reduced their price objective on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Sell” and a consensus price target of $1.85.

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.