Mercer International (NASDAQ:MERC) Major Shareholder Buys 136,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 136,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $0.86 per share, for a total transaction of $116,960.00. Following the acquisition, the insider owned 1,334,231 shares of the company’s stock, valued at approximately $1,147,438.66. The trade was a 11.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

Shares of MERC traded down $0.03 during midday trading on Wednesday, reaching $0.65. 1,761,082 shares of the stock were exchanged, compared to its average volume of 599,197. Mercer International Inc. has a twelve month low of $0.58 and a twelve month high of $4.47. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. The company has a market capitalization of $43.37 million, a price-to-earnings ratio of -0.08 and a beta of 0.52. The business’s 50-day moving average price is $0.89 and its 200 day moving average price is $1.48.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced 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). The firm had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. On average, sell-side analysts expect that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL acquired a new position in Mercer International in the 2nd quarter valued at $244,000. Jump Financial LLC lifted its stake in shares of Mercer International by 340.6% in 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 during the period. Gabelli Funds LLC purchased a new stake in shares of Mercer International in the second quarter valued at about $1,804,000. 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 valued at $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of 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 owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MERC has been the topic of a number of recent research reports. 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 report on Monday, May 11th. Royal Bank Of Canada decreased their price target on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. 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.com, the stock has an average rating of “Strong Sell” and an average target price 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.