Insider Selling: Mercer International Treasurer Unloads 2,000 Shares of Stock (MERC)
Mercer International (NASDAQ:MERC) Treasurer Genevieve Stannus sold 2,000 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $10.34, for a total transaction of $20,680.00. Following the transaction, the treasurer now directly owns 22,095 shares of the company’s stock, valued at approximately $228,462. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
MERC has been the subject of a number of recent research reports. Analysts at CIBC set a $8.50 price target on shares of Mercer International in a research note on Tuesday, August 5th. Separately, analysts at RBC Capital upgraded shares of Mercer International from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $14.00 price target on the stock, up previously from $10.00. Finally, analysts at Zacks downgraded shares of Mercer International from an “outperform” rating to a “neutral” rating in a research note on Friday, July 18th. They now have a $12.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $10.75.
Shares of Mercer International (NASDAQ:MERC) traded up 0.29% during mid-day trading on Monday, hitting $10.27. 59,448 shares of the company’s stock traded hands. Mercer International has a 52 week low of $6.62 and a 52 week high of $11.41. The stock has a 50-day moving average of $10.42 and a 200-day moving average of $9.22. The company has a market cap of $658.9 million and a price-to-earnings ratio of 66.93.
Mercer International (NASDAQ:MERC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.10. Analysts expect that Mercer International will post $0.56 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.
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