Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Acquires 380,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 380,000 shares of Mercer International stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average price of $0.96 per share, with a total value of $364,800.00. Following the purchase, the insider owned 1,852,000 shares in the company, valued at $1,777,920. This represents a 25.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 7.3%

Shares of NASDAQ MERC traded up $0.07 during trading hours on Wednesday, hitting $1.05. 294,682 shares of the stock were exchanged, compared to its average volume of 598,459. 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 company has a market cap of $70.00 million, a PE ratio of -0.13 and a beta of 0.53. The firm has a fifty day moving average price of $1.22 and a 200-day moving average price of $1.71. Mercer International Inc. has a 12 month low of $0.75 and a 12 month 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) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). The firm had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million. Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%. On average, sell-side analysts expect that Mercer International Inc. will post -2.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MERC shares. 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 report on Wednesday, January 21st. TD dropped their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. Royal Bank Of Canada dropped their target price 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. Finally, TD Securities downgraded shares of Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Trading of Mercer International

Several large investors have recently made changes to their positions in the business. Iat Reinsurance Co. LTD. lifted its holdings in Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after purchasing an additional 220,000 shares in the last quarter. Millennium Management LLC lifted its holdings 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 valued at $2,866,000 after purchasing an additional 137,906 shares in the last quarter. Geode Capital Management LLC lifted 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 valued at $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Gabelli Funds LLC acquired a new stake in shares of Mercer International in the second quarter valued at about $1,804,000. Finally, 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. 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.