Mercer International (NASDAQ:MERC) Major Shareholder Buys $204,250.00 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 215,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $0.95 per share, for a total transaction of $204,250.00. Following the completion of the purchase, the insider owned 1,472,000 shares in the company, valued at $1,398,400. This trade represents a 17.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 7.3%

MERC stock traded up $0.07 during midday trading on Wednesday, hitting $1.05. The company’s stock had a trading volume of 294,682 shares, compared to its average volume of 598,459. The firm has a 50-day simple moving average of $1.22 and a 200-day simple moving average of $1.71. The firm has a market capitalization of $70.00 million, a P/E ratio of -0.13 and a beta of 0.53. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. Mercer International Inc. has a 52-week low of $0.75 and a 52-week high of $4.47.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research note on Friday, March 27th. TD Securities cut shares of Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. TD Cowen downgraded shares of Mercer International from a “hold” rating to a “sell” rating and boosted their target price for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. TD cut 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. Finally, Royal Bank Of Canada lowered 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. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $1.85.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL acquired a new stake in Mercer International during the 2nd quarter worth $244,000. Jump Financial LLC grew its holdings in shares of Mercer International by 340.6% during the second 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 during the last quarter. Geode Capital Management LLC increased its position 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 worth $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Mercer International in the 2nd quarter valued at about $1,804,000. Finally, Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 137,906 shares during the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

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.