Insider Buying: Peter R. Kellogg Purchases 36,600 Shares of Mercer International Stock (MERC)
Mercer International (NASDAQ:MERC) major shareholder Peter R. Kellogg purchased 36,600 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $9.46 per share, with a total value of $346,236.00. Following the acquisition, the insider now directly owns 1,637,004 shares of the company’s stock, valued at approximately $15,486,058. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on MERC. Analysts at Zacks upgraded shares of Mercer International from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 17th. They now have a $10.50 price target on the stock. Separately, analysts at TheStreet upgraded shares of Mercer International from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, analysts at Raymond James upgraded shares of Mercer International from a “market perform” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $10.50 price target on the stock, up previously from $9.50. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.50.
Shares of Mercer International (NASDAQ:MERC) traded down 0.31% during mid-day trading on Thursday, hitting $9.51. The stock had a trading volume of 27,568 shares. Mercer International has a 1-year low of $6.22 and a 1-year high of $10.55. The stock has a 50-day moving average of $9.21 and a 200-day moving average of $9.00. The company’s market cap is $530.0 million.
Mercer International (NASDAQ:MERC) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.15. Analysts expect that Mercer International will post $0.44 EPS for the current fiscal year.
Mercer International Inc (NASDAQ:MERC) operates in the pulp business and is the producer of market northern bleached softwood kraft (NBSK) pulp.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.