Peter Kellogg Buys 215,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 215,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $0.95 per share, for a total transaction of $204,250.00. Following the completion of the transaction, the insider owned 1,472,000 shares of the company’s stock, valued at $1,398,400. This represents a 17.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Down 2.7%

Mercer International stock opened at $0.97 on Friday. Mercer International Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $4.47. 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’s fifty day moving average is $1.19 and its two-hundred day moving average is $1.70. 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 results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $493.00 million. Analysts predict that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International during the 2nd quarter worth about $244,000. Jump Financial LLC raised its position 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 buying an additional 214,008 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Mercer International by 2.7% during 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 buying an additional 14,603 shares during the period. Gabelli Funds LLC purchased a new position in shares of Mercer International during the second quarter valued at approximately $1,804,000. Finally, Millennium Management LLC boosted its position in 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 last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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