Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 225,000 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 225,000 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $1.73 per share, with a total value of $389,250.00. Following the completion of the acquisition, the insider owned 1,320,000 shares in the company, valued at approximately $2,283,600. This represents a 20.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

NASDAQ MERC remained flat at $1.83 during mid-day trading on Tuesday. 494,305 shares of the company were exchanged, compared to its average volume of 515,128. The stock has a market cap of $122.57 million, a P/E ratio of -0.71 and a beta of 0.76. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. The business has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $2.94. Mercer International Inc. has a 12-month low of $1.48 and a 12-month high of $8.28.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank Of Canada dropped their price objective on Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 1st. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mercer International presently has a consensus rating of “Reduce” and an average price target of $3.50.

Hedge Funds Weigh In On Mercer International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP increased its position 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 purchasing an additional 18,508 shares in the last quarter. Millennium Management LLC lifted its holdings 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 purchasing an additional 137,906 shares in the last quarter. Gabelli Funds LLC acquired a new stake in Mercer International during the 2nd quarter worth $1,804,000. 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. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the second quarter valued at about $244,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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.