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

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 36,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $0.89 per share, for a total transaction of $32,040.00. Following the acquisition, the insider owned 1,067,861 shares in the company, valued at $950,396.29. This trade represents a 3.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Trading Down 7.1%

NASDAQ MERC opened at $0.60 on Friday. Mercer International Inc. has a 52 week low of $0.58 and a 52 week high of $4.47. The firm has a 50 day moving average of $0.87 and a two-hundred day moving average of $1.46. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The stock has a market capitalization of $40.29 million, a PE ratio of -0.08 and a beta of 0.52.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MERC. Royal Bank Of Canada reduced their target price on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a report on Monday, May 11th. TD lowered their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a report on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Investors Weigh In On Mercer International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in 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 during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Mercer International in the second quarter valued at $244,000. Millennium Management LLC increased its position in shares of Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares in the last quarter. Jump Financial LLC increased 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 in the last quarter. Finally, Gabelli Funds LLC acquired a new position in shares of Mercer International during the 2nd quarter worth $1,804,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.

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.