Peter Kellogg Purchases 130,000 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg purchased 130,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was acquired at an average price of $1.87 per share, for a total transaction of $243,100.00. Following the completion of the transaction, the insider directly owned 1,264,540 shares of the company’s stock, valued at approximately $2,364,689.80. The trade was a 11.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

Shares of NASDAQ MERC remained flat at $1.83 on Tuesday. 494,305 shares of the stock were exchanged, compared to its average volume of 515,128. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. Mercer International Inc. has a one year low of $1.48 and a one year high of $8.28. The firm’s fifty day moving average is $2.13 and its 200 day moving average is $2.94. The company has a market capitalization of $122.57 million, a PE ratio of -0.71 and a beta of 0.76.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, November 6th. The basic materials company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.08). The business had revenue of $458.07 million for the quarter, compared to analyst estimates of $482.70 million. Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. As a group, research analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MERC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a research report on Monday, December 1st. Royal Bank Of Canada dropped their price target on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $3.50.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Gabelli Funds LLC bought a new position in shares of Mercer International during the 2nd quarter worth approximately $1,804,000. Iat Reinsurance Co. LTD. raised its position in Mercer International by 1.3% in 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 last quarter. Jump Financial LLC boosted its holdings in Mercer International by 340.6% in the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after acquiring an additional 214,008 shares during the last quarter. Millennium Management LLC increased its position in Mercer International by 16.1% in the third 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. Finally, Gamco Investors INC. ET AL acquired a new position in Mercer International in the second quarter valued at approximately $244,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.