Mercer International (NASDAQ:MERC) Major Shareholder Purchases $132,885.80 in Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg bought 58,540 shares of the stock in a transaction dated Wednesday, October 29th. The stock was bought at an average price of $2.27 per share, for a total transaction of $132,885.80. Following the purchase, the insider directly owned 974,840 shares of the company’s stock, valued at approximately $2,212,886.80. The trade was a 6.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Performance

Shares of MERC stock remained flat at $1.83 on Tuesday. 494,305 shares of the company were exchanged, compared to its average volume of 515,128. Mercer International Inc. has a 12-month low of $1.48 and a 12-month high of $8.28. The stock has a market cap of $122.57 million, a P/E ratio of -0.71 and a beta of 0.76. The company has a quick ratio of 1.68, a current ratio of 3.01 and a debt-to-equity ratio of 4.30. The company’s fifty day moving average price is $2.13 and its 200 day moving average price is $2.94.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results 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 analyst estimates of $482.70 million. Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. Equities research analysts forecast that Mercer International Inc. will post -0.29 earnings per share for the current year.

Institutional Trading of Mercer International

A number of institutional investors and hedge funds have recently modified their holdings of MERC. Quantbot Technologies LP boosted its stake 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 purchasing an additional 18,508 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Mercer International in the 2nd quarter worth $244,000. Millennium Management LLC boosted its position 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 worth $2,866,000 after acquiring an additional 137,906 shares during the last quarter. Jump Financial LLC grew its holdings in Mercer International by 340.6% during the 2nd quarter. Jump Financial LLC now owns 276,837 shares of the basic materials company’s stock valued at $969,000 after buying an additional 214,008 shares in the last quarter. Finally, Iat Reinsurance Co. LTD. increased its holdings in shares of Mercer International by 1.3% in the 3rd quarter. Iat Reinsurance Co. LTD. now owns 16,700,000 shares of the basic materials company’s stock worth $48,096,000 after buying an additional 220,000 shares during the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MERC has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their target price 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a research note on Monday, December 1st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mercer International has a consensus rating of “Reduce” and a consensus price target of $3.50.

About Mercer International

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.