Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Buys 36,602 Shares of Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 36,602 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $1.93 per share, with a total value of $70,641.86. Following the completion of the transaction, the insider directly owned 1,036,602 shares of the company’s stock, valued at approximately $2,000,641.86. The trade was a 3.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Mercer International Price Performance

Shares of NASDAQ MERC remained flat at $1.83 during trading on Tuesday. The stock had a trading volume of 494,305 shares, compared to its average volume of 515,128. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. The stock has a market cap of $122.57 million, a PE ratio of -0.71 and a beta of 0.76. Mercer International Inc. has a 1 year low of $1.48 and a 1 year high of $8.28. The firm has a 50-day moving average of $2.13 and a 200-day moving average of $2.94.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its quarterly earnings data 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 firm had revenue of $458.07 million during the quarter, compared to analysts’ expectations of $482.70 million. Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%. Analysts expect that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP grew its holdings in Mercer International by 943.3% in the 1st quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 18,508 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in Mercer International during the 2nd quarter valued at about $244,000. Millennium Management LLC increased its stake in shares of Mercer International by 16.1% during the third quarter. Millennium Management LLC now owns 994,974 shares of the basic materials company’s stock valued at $2,866,000 after buying an additional 137,906 shares during the period. Jump Financial LLC raised its holdings in shares of Mercer International by 340.6% during 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 in the last quarter. Finally, Iat Reinsurance Co. LTD. raised its holdings in shares of Mercer International by 1.3% during the third quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock valued at $48,096,000 after acquiring an additional 220,000 shares in the last quarter. 85.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.