Peter Kellogg Purchases 215,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 215,000 shares of Mercer International stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $0.95 per share, with a total value of $204,250.00. Following the purchase, the insider owned 1,472,000 shares of the company’s stock, valued at $1,398,400. The trade was a 17.10% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC traded up $0.07 during mid-day trading on Wednesday, reaching $1.05. 294,682 shares of the company’s stock were exchanged, compared to its average volume of 598,459. The business’s fifty day simple moving average is $1.22 and its 200-day simple moving average is $1.71. The stock has a market capitalization of $70.00 million, a PE ratio of -0.13 and a beta of 0.53. Mercer International Inc. has a 52-week low of $0.75 and a 52-week high of $4.47. 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 results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The business had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. On average, equities research analysts expect that Mercer International Inc. will post -2.21 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Mercer International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MERC. Jump Financial LLC lifted its holdings in shares of Mercer International by 340.6% in the 2nd 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 period. Gamco Investors INC. ET AL acquired a new position in Mercer International during the second quarter worth $244,000. Gabelli Funds LLC purchased a new position in Mercer International in the second quarter worth $1,804,000. Iat Reinsurance Co. LTD. raised its position in 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. Finally, Millennium Management LLC boosted its position in shares of Mercer International by 16.1% during the 3rd 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.

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.