Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 51,441 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 51,441 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average price of $0.92 per share, for a total transaction of $47,325.72. Following the completion of the acquisition, the insider owned 1,385,672 shares in the company, valued at approximately $1,274,818.24. This trade represents a 3.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

Shares of NASDAQ MERC opened at $0.65 on Thursday. The firm has a market cap of $43.37 million, a PE ratio of -0.08 and a beta of 0.52. 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 business has a 50 day moving average price of $0.88 and a two-hundred day moving average price of $1.47. 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 issued 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 net margin of 28.51% and a negative return on equity of 136.20%. The company had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Sell-side analysts expect that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL acquired a new position in shares of Mercer International during the second quarter valued at $244,000. Jump Financial LLC lifted its holdings in shares of 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 buying an additional 214,008 shares during the period. Geode Capital Management LLC boosted 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 buying an additional 14,603 shares in the last quarter. Gabelli Funds LLC acquired a new position in Mercer International during the second quarter worth about $1,804,000. Finally, Millennium Management LLC grew its holdings 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 worth $2,866,000 after acquiring an additional 137,906 shares during the period. 85.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MERC has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their price target 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 lowered 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 report on Monday, May 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Two research 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 presently has a consensus rating of “Strong Sell” and a consensus price target of $1.85.

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.