Mercer International (NASDAQ:MERC) Major Shareholder Acquires $27,786.40 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 34,733 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average price of $0.80 per share, with a total value of $27,786.40. Following the completion of the acquisition, the insider owned 1,138,594 shares of the company’s stock, valued at $910,875.20. This trade represents a 3.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC opened at $0.64 on Friday. Mercer International Inc. has a 1 year low of $0.58 and a 1 year high of $4.47. The stock has a market capitalization of $42.97 million, a PE ratio of -0.08 and a beta of 0.52. 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 stock has a 50-day simple moving average of $0.86 and a 200-day simple moving average of $1.45.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last posted its quarterly earnings results 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). Mercer International had a negative return on equity of 136.20% and a negative net margin of 28.51%.The firm had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. On average, analysts predict that Mercer International Inc. will post -2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mercer International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MERC. Gamco Investors INC. ET AL acquired a new stake in shares of Mercer International in the 2nd quarter valued at approximately $244,000. Jump Financial LLC boosted its holdings in Mercer International by 340.6% during the second quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock worth $969,000 after buying an additional 214,008 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 14,603 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Mercer International during the 2nd quarter worth approximately $1,804,000. Finally, Millennium Management LLC grew its holdings in shares of Mercer International by 16.1% in the 3rd quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock worth $2,866,000 after acquiring an additional 137,906 shares during the period. Institutional investors and hedge funds own 85.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MERC. Wall Street Zen upgraded shares of Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. TD dropped their price target on Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Monday, May 11th. Royal Bank Of Canada lowered their target price on shares of 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus 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.