Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 64,885 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 64,885 shares of Mercer International stock in a transaction dated Monday, June 1st. The stock was purchased at an average price of $0.90 per share, with a total value of $58,396.50. Following the purchase, the insider directly owned 1,030,814 shares in the company, valued at approximately $927,732.60. This trade represents a 6.72% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Down 4.2%

MERC opened at $0.65 on Thursday. The business’s fifty day moving average is $0.88 and its two-hundred day moving average is $1.47. The company has a debt-to-equity ratio of 23.58, a quick ratio of 1.22 and a current ratio of 2.17. The company has a market cap of $43.37 million, a price-to-earnings ratio of -0.08 and a beta of 0.52. Mercer International Inc. has a one year low of $0.58 and a one year high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced 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 net margin of 28.51% and a negative return on equity of 136.20%. The firm had revenue of $489.30 million during the quarter, compared to analysts’ expectations of $493.00 million. Analysts anticipate that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings 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 valued at $1,111,000 after buying an additional 14,603 shares during the period. Millennium Management LLC increased its stake 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 valued at $2,866,000 after acquiring an additional 137,906 shares during the last quarter. Gabelli Funds LLC purchased a new position in shares of Mercer International during the 2nd quarter worth about $1,804,000. Gamco Investors INC. ET AL purchased a new position in shares of Mercer International during the 2nd quarter worth about $244,000. Finally, Jump Financial LLC boosted its position in shares of Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after acquiring an additional 214,008 shares during the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. 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. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, TD lowered their target price on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a report on Monday, May 11th. Two equities research 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 currently has a consensus rating of “Strong Sell” and an average target price of $1.85.

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.