Mercer International (NASDAQ:MERC) Major Shareholder Buys $19,033.38 in Stock

by · The Markets Daily

Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg acquired 6,822 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was purchased at an average cost of $2.79 per share, with a total value of $19,033.38. Following the transaction, the insider owned 866,822 shares in the company, valued at approximately $2,418,433.38. This trade represents a 0.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Up 1.0%

Shares of MERC stock opened at $2.10 on Friday. Mercer International Inc. has a 52-week low of $1.48 and a 52-week high of $8.28. The stock has a market cap of $140.66 million, a price-to-earnings ratio of -0.81 and a beta of 0.76. The firm’s 50-day moving average is $2.10 and its 200-day moving average is $2.93. The company has a debt-to-equity ratio of 4.30, a quick ratio of 1.68 and a current ratio of 3.01.

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

Institutional Trading of Mercer International

A number of hedge funds have recently added to or reduced their stakes in MERC. Quantbot Technologies LP boosted its holdings in shares of Mercer International by 943.3% during the 1st quarter. Quantbot Technologies LP now owns 20,470 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 18,508 shares in the last quarter. Iat Reinsurance Co. LTD. boosted its stake 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 purchasing an additional 220,000 shares in the last quarter. Millennium Management LLC grew its holdings 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 purchasing an additional 137,906 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Mercer International in the second quarter valued at approximately $1,804,000. Finally, Gamco Investors INC. ET AL bought a new position in Mercer International in the 2nd quarter valued at approximately $244,000. Institutional investors and hedge funds own 85.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports 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 for the company in a research report on Monday, November 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mercer International in a report on Monday. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Mercer International presently has an average rating of “Reduce” and an average price target of $3.50.

Check Out Our Latest Report on Mercer International

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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