Mercer International (NASDAQ:MERC) Major Shareholder Acquires $19,033.38 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 6,822 shares of Mercer International stock in a transaction dated Friday, October 3rd. The stock was acquired at an average cost of $2.79 per share, for a total transaction of $19,033.38. Following the purchase, the insider directly owned 866,822 shares in the company, valued at approximately $2,418,433.38. The trade was a 0.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC remained flat at $1.83 on Tuesday. 494,305 shares of the company were exchanged, compared to its average volume of 515,128. The stock’s 50 day simple moving average is $2.13 and its 200 day simple moving average is $2.94. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. The stock has a market cap of $122.57 million, a PE ratio of -0.71 and a beta of 0.76. Mercer International Inc. has a twelve month low of $1.48 and a twelve month high of $8.28.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.08). The company had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%. Equities research analysts predict that Mercer International Inc. will post -0.29 EPS for the current year.

Institutional Trading of Mercer International

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in shares of Mercer International by 943.3% during the first quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock worth $126,000 after buying an additional 18,508 shares in the last quarter. Millennium Management LLC lifted its stake in Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after acquiring an additional 137,906 shares in the last quarter. Gabelli Funds LLC acquired a new position in Mercer International during the 2nd quarter worth approximately $1,804,000. Jump Financial LLC grew 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. Finally, Gamco Investors INC. ET AL bought a new position in shares of Mercer International during the 2nd quarter worth approximately $244,000. 85.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 1st. Royal Bank Of Canada decreased their price target on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Mercer International presently has an average rating of “Reduce” and a consensus price target of $3.50.

About Mercer International

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.