Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 36,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 36,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average price of $0.89 per share, for a total transaction of $32,040.00. Following the purchase, the insider owned 1,067,861 shares of the company’s stock, valued at $950,396.29. The trade was a 3.49% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

NASDAQ:MERC traded down $0.03 during trading hours on Wednesday, reaching $0.65. The stock had a trading volume of 1,761,087 shares, compared to its average volume of 599,197. The stock has a market cap of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52. The stock has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $1.48. 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 Inc. has a 12-month low of $0.58 and a 12-month high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The firm had revenue of $489.30 million during the quarter, compared to analysts’ expectations of $493.00 million. On average, research analysts forecast that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Analyst Ratings Changes

MERC has been the topic of several research reports. Royal Bank Of Canada lowered 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. 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. TD lowered 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. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Mercer International currently has a consensus rating of “Strong Sell” and an average price target of $1.85.

Institutional Investors Weigh In On Mercer International

A number of institutional investors and hedge funds have recently modified their holdings of MERC. Gamco Investors INC. ET AL purchased a new position in Mercer International during the second quarter valued at approximately $244,000. Jump Financial LLC lifted its stake in 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 purchasing an additional 214,008 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Mercer International by 2.7% in the 4th 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 period. Gabelli Funds LLC bought a new position in Mercer International in the 2nd quarter valued at $1,804,000. Finally, Millennium Management LLC grew its position in shares of Mercer International by 16.1% during the 3rd 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 in the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

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.