Peter Kellogg Buys 64,885 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 64,885 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $0.90 per share, for a total transaction of $58,396.50. Following the purchase, the insider owned 1,030,814 shares of the company’s stock, valued at $927,732.60. The trade was a 6.72% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

Shares of MERC stock traded down $0.03 on Wednesday, hitting $0.65. 1,761,087 shares of the stock were exchanged, compared to its average volume of 599,197. The firm’s 50 day moving average is $0.89 and its two-hundred day moving average is $1.48. Mercer International Inc. has a one year low of $0.58 and a one year high of $4.47. The firm 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.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released 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). The business had revenue of $489.30 million for the quarter, compared to analysts’ expectations of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. Sell-side analysts expect that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercer International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MERC. Gamco Investors INC. ET AL purchased a new stake in shares of Mercer International in the 2nd quarter valued at about $244,000. Jump Financial LLC increased 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 purchasing an additional 214,008 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Mercer International in the second quarter valued at approximately $1,804,000. Geode Capital Management LLC raised its stake 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 valued at $1,111,000 after purchasing an additional 14,603 shares in the last quarter. Finally, Millennium Management LLC lifted its position 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 valued at $2,866,000 after purchasing an additional 137,906 shares during the last quarter. 85.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MERC. Wall Street Zen raised Mercer International from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. TD reduced their target price on Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a report on Monday, May 11th. Finally, Royal Bank Of Canada decreased 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. Two analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average price target 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.