Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Acquires $29,520.00 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 36,000 shares of Mercer International stock in a transaction dated Wednesday, June 10th. The shares were acquired at an average price of $0.82 per share, with a total value of $29,520.00. Following the transaction, the insider owned 1,198,231 shares in the company, valued at approximately $982,549.42. This represents a 3.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major 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

MERC opened at $0.64 on Friday. The firm has a market cap of $42.97 million, a PE ratio of -0.08 and a beta of 0.52. The company has a quick ratio of 1.22, a current ratio of 2.17 and a debt-to-equity ratio of 23.58. The business has a fifty day simple moving average of $0.86 and a 200-day simple moving average of $1.45. Mercer International Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $4.47.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings results on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.04). The company had revenue of $489.30 million during the quarter, compared to analyst estimates of $493.00 million. Mercer International had a negative net margin of 28.51% and a negative return on equity of 136.20%. As a group, equities analysts predict that Mercer International Inc. will post -2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on MERC shares. TD decreased their price target on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating for the company in a report on Monday, May 11th. Wall Street Zen upgraded Mercer International from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada reduced their target price on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating for the company in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 137,906 shares during the last quarter. Gabelli Funds LLC bought a new position in Mercer International during the second quarter valued at about $1,804,000. Geode Capital Management LLC raised its holdings in Mercer International by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 561,001 shares of the basic materials company’s stock valued at $1,111,000 after acquiring an additional 14,603 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Mercer International by 340.6% during the 2nd 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 in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Mercer International in the second quarter valued at $244,000. 85.79% of the stock is owned by institutional investors.

Mercer International Company Profile

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.