Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Buys 6,822 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 6,822 shares of Mercer International stock in a transaction dated Friday, October 3rd. The shares were acquired at an average price of $2.79 per share, with a total value of $19,033.38. Following the completion of the purchase, the insider owned 866,822 shares in the company, valued at approximately $2,418,433.38. The trade was a 0.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

Shares of NASDAQ:MERC remained flat at $1.83 during midday trading on Tuesday. The company had a trading volume of 494,305 shares, compared to its average volume of 515,128. Mercer International Inc. has a twelve month low of $1.48 and a twelve month high of $8.28. The firm has a market capitalization of $122.57 million, a PE ratio of -0.71 and a beta of 0.76. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01. The company’s fifty day moving average is $2.13 and its 200 day moving average is $2.94.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing the consensus estimate 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 net margin of 9.04% and a negative return on equity of 37.38%. On average, research analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mercer International

Several hedge funds have recently bought and sold shares of MERC. Quantbot Technologies LP boosted its holdings in shares of Mercer International by 943.3% during the 1st quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 18,508 shares in the last quarter. Jump Financial LLC grew its position in Mercer International by 340.6% in the 2nd 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 in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Mercer International during the second quarter worth about $244,000. Gabelli Funds LLC bought a new stake in Mercer International in the 2nd quarter valued at about $1,804,000. Finally, Iat Reinsurance Co. LTD. raised its stake in shares of Mercer International by 1.3% during the 3rd 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 during the period. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MERC has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 1st. Royal Bank Of Canada decreased their price objective on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price 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.