Mercer International (NASDAQ:MERC) Major Shareholder Purchases 36,000 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 36,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average cost of $0.89 per share, for a total transaction of $32,040.00. Following the completion of the purchase, the insider directly owned 1,067,861 shares of the company’s stock, valued at approximately $950,396.29. This represents a 3.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Down 4.2%

NASDAQ MERC traded down $0.03 during trading hours on Wednesday, hitting $0.65. The company’s stock had a trading volume of 1,761,087 shares, compared to its average volume of 599,197. Mercer International Inc. has a 52 week low of $0.58 and a 52 week high of $4.47. The company has a market capitalization of $43.37 million, a PE ratio of -0.08 and a beta of 0.52. 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 company’s 50-day simple moving average is $0.89 and its two-hundred day simple moving average is $1.48.

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 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 company had revenue of $489.30 million for the quarter, compared to the consensus estimate of $493.00 million. Research analysts anticipate that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MERC has been the subject of several recent analyst reports. Royal Bank Of Canada reduced 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 note on Monday, May 11th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Finally, TD decreased their price objective on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a research note on Monday, May 11th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Investors Weigh In On Mercer International

Several large investors have recently made changes to their positions in MERC. Gabelli Funds LLC bought a new stake in shares of Mercer International during the 2nd quarter worth $1,804,000. Jump Financial LLC grew its position 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 valued at $969,000 after buying an additional 214,008 shares during the period. Millennium Management LLC increased its holdings in Mercer International by 16.1% during the third 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 during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Mercer International during the second quarter worth about $244,000. Finally, 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 acquiring an additional 14,603 shares during the period. 85.79% of the stock is owned by hedge funds and other institutional investors.

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.