Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 100,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 100,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of $0.86 per share, with a total value of $86,000.00. Following the completion of the purchase, the insider owned 1,057,000 shares of the company’s stock, valued at approximately $909,020. The trade was a 10.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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

Mercer International stock opened at $0.94 on Friday. 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 firm has a market cap of $62.96 million, a P/E ratio of -0.12 and a beta of 0.53. Mercer International Inc. has a 1-year low of $0.75 and a 1-year high of $4.47. The firm has a 50-day moving average of $1.25 and a 200-day moving average of $1.74.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly 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 business had revenue of $489.30 million for the quarter, compared to analysts’ expectations of $493.00 million. Sell-side analysts expect that Mercer International Inc. will post -2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MERC. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. TD Cowen downgraded shares of Mercer International from a “hold” rating to a “sell” rating and boosted their price objective for the company from $2.00 to $2.25 in a research report on Wednesday, January 21st. 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 for the company in a research report on Monday, May 11th. TD cut 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 note on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Mercer International has an average rating of “Strong Sell” and a consensus price target of $1.85.

Hedge Funds Weigh In On Mercer International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings 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 worth $1,111,000 after purchasing an additional 14,603 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Mercer International in the second quarter worth about $244,000. Millennium Management LLC lifted its stake 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 buying an additional 137,906 shares in the last quarter. Jump Financial LLC lifted its stake 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 worth $969,000 after buying an additional 214,008 shares in the last quarter. Finally, Iat Reinsurance Co. LTD. lifted its stake 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 buying an additional 220,000 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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.