Insider Buying: Mercer International (NASDAQ:MERC) Major Shareholder Buys 34,733 Shares

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 34,733 shares of Mercer International stock in a transaction dated Monday, June 8th. The stock was purchased at an average price of $0.80 per share, for a total transaction of $27,786.40. Following the completion of the acquisition, the insider directly owned 1,138,594 shares in the company, valued at approximately $910,875.20. This represents a 3.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Mercer International Stock Down 4.2%

NASDAQ:MERC traded down $0.03 during trading hours on Wednesday, hitting $0.65. The company’s stock had a trading volume of 1,761,087 shares, compared to its average volume of 599,197. Mercer International Inc. has a 52-week low of $0.58 and a 52-week high of $4.47. The company has a current ratio of 2.17, a quick ratio of 1.22 and a debt-to-equity ratio of 23.58. The stock has a market capitalization of $43.37 million, a P/E ratio of -0.08 and a beta of 0.52. The stock has a fifty day moving average of $0.89 and a 200-day moving average of $1.48.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last released its quarterly earnings data on Thursday, May 7th. The basic materials company reported ($0.78) earnings per share (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 business had revenue of $489.30 million for the quarter, compared to analyst estimates of $493.00 million. On average, equities analysts forecast that Mercer International Inc. will post -2.21 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on MERC. TD dropped their price target on shares of Mercer International from $1.00 to $0.50 and set a “sell” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Wednesday, June 24th. Wall Street Zen raised shares of Mercer International from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Royal Bank Of Canada cut their price target on shares of Mercer International from $1.25 to $1.00 and set a “sector perform” rating on the stock in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Mercer International has a consensus rating of “Strong Sell” and a consensus target price of $1.85.

Institutional Investors Weigh In On Mercer International

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

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.