Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Purchases $120,726.32 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 49,478 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $2.44 per share, with a total value of $120,726.32. Following the completion of the acquisition, the insider directly owned 916,300 shares in the company, valued at approximately $2,235,772. The trade was a 5.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Mercer International stock opened at $2.10 on Friday. The company has a market cap of $140.66 million, a PE ratio of -0.81 and a beta of 0.76. The company has a current ratio of 3.01, a quick ratio of 1.68 and a debt-to-equity ratio of 4.30. Mercer International Inc. has a 1 year low of $1.48 and a 1 year high of $8.28. The company’s 50-day moving average is $2.10 and its two-hundred day moving average is $2.93.

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). Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%.The business had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Equities analysts anticipate that Mercer International Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MERC has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research report on Monday. Royal Bank Of Canada decreased their price objective on Mercer International from $3.00 to $2.00 and set a “sector perform” rating for the company in a research note on Monday, November 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.50.

Hedge Funds Weigh In On Mercer International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP increased its position in shares of Mercer International by 943.3% in the 1st quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock valued at $126,000 after buying an additional 18,508 shares in the last quarter. Jump Financial LLC lifted its holdings in 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 acquiring an additional 214,008 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in Mercer International in the second quarter valued at about $244,000. Gabelli Funds LLC bought a new stake in shares of Mercer International in the second quarter worth about $1,804,000. Finally, Iat Reinsurance Co. LTD. increased its holdings in shares of Mercer International by 1.3% in the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after acquiring an additional 220,000 shares in the last quarter. Institutional investors and hedge funds 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.