Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Buys 105,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 105,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $0.97 per share, with a total value of $101,850.00. Following the completion of the acquisition, the insider directly owned 1,957,000 shares of the company’s stock, valued at $1,898,290. This represents a 5.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Major 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 Up 7.3%

NASDAQ:MERC traded up $0.07 during trading hours on Wednesday, reaching $1.05. The company’s stock had a trading volume of 294,682 shares, compared to its average volume of 598,459. The company has a market cap of $70.00 million, a price-to-earnings ratio of -0.13 and a beta of 0.53. Mercer International Inc. has a one year low of $0.75 and a one year high of $4.47. The business’s 50-day moving average is $1.22 and its 200-day moving average is $1.71. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). The business had revenue of $489.30 million during 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%. Equities research analysts predict that Mercer International Inc. will post -2.21 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL acquired a new position in shares of Mercer International during the second quarter valued at about $244,000. Jump Financial LLC raised its position in shares of Mercer International by 340.6% during 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. Gabelli Funds LLC acquired a new position in shares of Mercer International during the second quarter valued at about $1,804,000. Geode Capital Management LLC raised its position in Mercer International by 2.7% in 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 in the last quarter. Finally, Millennium Management LLC raised its position in Mercer International by 16.1% in the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after purchasing an additional 137,906 shares in the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MERC shares. TD Cowen cut shares of Mercer International from a “hold” rating to a “sell” rating and upped their price objective for the stock from $2.00 to $2.25 in a report on Wednesday, January 21st. TD Securities lowered shares of Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada cut 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 research report on Monday, May 11th. TD cut their target price on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research report on Friday, March 27th. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mercer International has an average rating of “Strong Sell” and a consensus target price of $1.85.

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.