Peter Kellogg Acquires 105,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 105,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $0.97 per share, with a total value of $101,850.00. Following the acquisition, the insider directly owned 1,957,000 shares of the company’s stock, valued at $1,898,290. This trade represents a 5.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Stock Down 2.7%

Shares of NASDAQ MERC opened at $0.97 on Friday. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. The firm has a market capitalization of $65.15 million, a price-to-earnings ratio of -0.12 and a beta of 0.53. The stock has a 50 day moving average price of $1.19 and a 200 day moving average price of $1.70. Mercer International Inc. has a 52-week low of $0.75 and a 52-week high of $4.47.

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). The firm had revenue of $489.30 million during 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%. Sell-side analysts expect that Mercer International Inc. will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Mercer International

Large investors have recently made changes to their positions in the business. Iat Reinsurance Co. LTD. boosted its holdings in 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 valued at $48,096,000 after purchasing an additional 220,000 shares during the last quarter. Millennium Management LLC boosted its holdings in Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after purchasing an additional 137,906 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $1,111,000 after purchasing an additional 14,603 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. Finally, Jump Financial LLC boosted its stake 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 worth $969,000 after acquiring an additional 214,008 shares in the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MERC. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. TD reduced their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. Finally, Royal Bank Of Canada reduced their price target on 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. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average 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.