Mercer International (NASDAQ:MERC) Major Shareholder Peter Kellogg Purchases 54,000 Shares

by · The Markets Daily

Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) major shareholder Peter Kellogg purchased 54,000 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $1.70 per share, for a total transaction of $91,800.00. Following the completion of the transaction, the insider directly owned 1,318,540 shares of the company’s stock, valued at approximately $2,241,518. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Mercer International Stock Performance

Shares of Mercer International stock opened at $1.83 on Wednesday. Mercer International Inc. has a 1 year low of $1.48 and a 1 year high of $8.28. The company has a debt-to-equity ratio of 4.30, a current ratio of 3.01 and a quick ratio of 1.68. The business has a 50 day moving average price of $2.13 and a 200 day moving average price of $2.94. The company has a market capitalization of $122.57 million, a P/E ratio of -0.71 and a beta of 0.76.

Mercer International (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) last released its quarterly 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). Mercer International had a negative return on equity of 37.38% and a negative net margin of 9.04%.The company had revenue of $458.07 million for the quarter, compared to analysts’ expectations of $482.70 million. Sell-side analysts anticipate that Mercer International Inc. will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MERC. Weiss Ratings restated a “sell (e+)” rating on shares of Mercer International in a report on Monday. Royal Bank Of Canada reduced 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 note on Monday, November 10th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $3.50.

Check Out Our Latest Analysis on Mercer International

Hedge Funds Weigh In On Mercer International

A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP grew its stake 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 buying an additional 18,508 shares during the period. Jump Financial LLC raised its position 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 worth $969,000 after buying an additional 214,008 shares during the period. Gamco Investors INC. ET AL acquired a new position in Mercer International in the second quarter valued at $244,000. Gabelli Funds LLC purchased a new stake in Mercer International during the second quarter valued at about $1,804,000. Finally, Iat Reinsurance Co. LTD. increased its stake in 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 worth $48,096,000 after acquiring an additional 220,000 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.

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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