Peter Kellogg Buys 200,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of $0.88 per share, for a total transaction of $176,000.00. Following the completion of the acquisition, the insider directly owned 1,257,000 shares of the company’s stock, valued at $1,106,160. The trade was a 18.92% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Trading Up 0.7%

MERC opened at $0.94 on Friday. Mercer International Inc. has a one year low of $0.75 and a one year high of $4.47. The stock has a market capitalization of $62.96 million, a PE ratio of -0.12 and a beta of 0.53. The business’s 50 day moving average price is $1.25 and its 200 day moving average price is $1.74. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data 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). 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 during the quarter, compared to analyst estimates of $493.00 million. As a group, equities research analysts expect that Mercer International Inc. will post -2.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MERC shares. Royal Bank Of Canada decreased their price target on Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. TD Cowen cut Mercer International from a “hold” rating to a “sell” rating and upped their price target for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. TD Securities cut Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Finally, TD decreased their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus price target of $1.85.

Institutional Trading of Mercer International

Hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at $244,000. Jump Financial LLC raised 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 valued at $969,000 after acquiring an additional 214,008 shares in the last quarter. Geode Capital Management LLC raised its stake 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 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 in the second quarter valued at $1,804,000. Finally, Millennium Management LLC increased 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 buying an additional 137,906 shares during the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

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.