Peter Kellogg Buys 51,441 Shares of Mercer International (NASDAQ:MERC) Stock

Mercer International Inc. (NASDAQ:MERC) (TSE:MRI.U) major shareholder Peter Kellogg acquired 51,441 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $0.92 per share, with a total value of $47,325.72. Following the completion of the acquisition, the insider directly owned 1,385,672 shares of the company’s stock, valued at $1,274,818.24. This represents a 3.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Down 7.1%

Shares of Mercer International stock opened at $0.60 on Friday. The company has a debt-to-equity ratio of 23.58, a current ratio of 2.17 and a quick ratio of 1.22. Mercer International Inc. has a 1 year low of $0.58 and a 1 year high of $4.47. The firm’s 50-day moving average is $0.87 and its two-hundred day moving average is $1.46. The stock has a market cap of $40.29 million, a price-to-earnings ratio of -0.08 and a beta of 0.52.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Mercer International by 2.7% during 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 last quarter. Millennium Management LLC boosted its stake in Mercer International by 16.1% in the third 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 in the last quarter. Gabelli Funds LLC purchased a new position in Mercer International in the second quarter worth $1,804,000. Gamco Investors INC. ET AL purchased a new position in Mercer International in the second quarter worth $244,000. Finally, Jump Financial LLC increased its position 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 worth $969,000 after purchasing an additional 214,008 shares in the last quarter. Hedge funds and other institutional investors own 85.79% of the company’s stock.

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.