Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Acquires 130,000 Shares

by · The Cerbat Gem

Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg bought 130,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $1.87 per share, with a total value of $243,100.00. Following the purchase, the insider directly owned 1,264,540 shares in the company, valued at approximately $2,364,689.80. This trade represents a 11.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mercer International Stock Performance

NASDAQ MERC opened at $1.83 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 1.68 and a debt-to-equity ratio of 4.30. Mercer International Inc. has a 1-year low of $1.48 and a 1-year high of $8.28. The firm’s fifty day simple moving average is $2.13 and its 200-day simple moving average is $2.94. The company has a market capitalization of $122.57 million, a PE ratio of -0.71 and a beta of 0.76.

Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last issued its earnings results on Thursday, November 6th. The basic materials company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.08). Mercer International had a negative net margin of 9.04% and a negative return on equity of 37.38%. The firm had revenue of $458.07 million during the quarter, compared to analysts’ expectations of $482.70 million. As a group, sell-side analysts anticipate that Mercer International Inc. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MERC. Royal Bank Of Canada cut their price objective on shares of Mercer International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Monday. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $3.50.

Check Out Our Latest Analysis on MERC

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quantbot Technologies LP boosted 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 valued at $126,000 after purchasing an additional 18,508 shares during the period. Millennium Management LLC lifted its stake in 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 purchasing an additional 137,906 shares during the period. Gabelli Funds LLC acquired a new stake in Mercer International in the 2nd quarter valued at $1,804,000. Jump Financial LLC boosted its stake in shares of 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 in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in Mercer International during the second quarter worth about $244,000. 85.79% of the stock is currently owned by institutional investors and hedge funds.

About Mercer International

(Get Free Report)

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.

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