Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 70,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 70,000 shares of Mercer International stock in a transaction dated Tuesday, July 22nd. The stock was acquired at an average cost of $3.38 per share, with a total value of $236,600.00. Following the completion of the transaction, the insider directly owned 1,000,000 shares of the company’s stock, valued at $3,380,000. This trade represents a 7.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Price Performance

NASDAQ:MERC opened at $1.67 on Wednesday. The company has a debt-to-equity ratio of 23.58, a current ratio of 3.05 and a quick ratio of 1.79. Mercer International Inc. has a one year low of $1.48 and a one year high of $6.78. The company has a fifty day moving average price of $2.08 and a 200 day moving average price of $2.28. The stock has a market cap of $111.86 million, a P/E ratio of -0.22 and a beta of 0.68.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings results on Thursday, February 12th. The basic materials company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.51). The company had revenue of $449.50 million during the quarter, compared to analyst estimates of $459.84 million. Mercer International had a negative return on equity of 81.16% and a negative net margin of 26.65%. Analysts anticipate that Mercer International Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. TD Cowen cut Mercer International from a “hold” rating to a “sell” rating and upped their price target for the company from $2.00 to $2.25 in a report on Wednesday, January 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Monday, December 29th. Finally, TD Securities cut Mercer International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.95.

Institutional Trading of Mercer International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Mercer International by 2.7% during 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 during the period. Gamco Investors INC. ET AL bought a new stake in shares of Mercer International in the 2nd quarter valued at approximately $244,000. Millennium Management LLC raised its holdings in shares of Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after buying an additional 137,906 shares in the last quarter. Jump Financial LLC raised 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 worth $969,000 after buying an additional 214,008 shares in the last quarter. Finally, Iat Reinsurance Co. LTD. lifted its position 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 worth $48,096,000 after buying an additional 220,000 shares during the period. Institutional investors own 85.79% of the company’s stock.

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.