Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 215,000 Shares

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

Mercer International Stock Performance

Shares of MERC opened at $1.00 on Thursday. Mercer International Inc. has a 12 month low of $0.75 and a 12 month high of $4.47. The stock has a fifty day moving average price of $1.21 and a 200-day moving average price of $1.71. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. The firm has a market cap of $66.97 million, a PE ratio of -0.13 and a beta of 0.53.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last issued its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.04). Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. The business had revenue of $489.30 million for the quarter, compared to analysts’ expectations of $493.00 million. Equities research analysts predict that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Friday, March 27th. TD reduced their target price on Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday, May 11th. TD Securities lowered Mercer International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Finally, TD Cowen lowered Mercer International from a “hold” rating to a “sell” rating and raised their target price for the stock from $2.00 to $2.25 in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Hedge Funds Weigh In On Mercer International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock worth $1,111,000 after acquiring an additional 14,603 shares during the last quarter. Millennium Management LLC grew its position in 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 during the period. Iat Reinsurance Co. LTD. grew its position in 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 purchasing an additional 220,000 shares during the period. Gabelli Funds LLC acquired a new stake in Mercer International during the 2nd quarter worth about $1,804,000. Finally, Gamco Investors INC. ET AL acquired a new stake in Mercer International during the 2nd quarter worth about $244,000. Hedge funds and other 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.