Mercer International (NASDAQ:MERC) Director Linda J. Welty Buys 10,000 Shares

Key Points

• Linda Welty, a director at Mercer International, purchased 10,000 shares at an average price of $3.09, increasing her total ownership to 36,290 shares.
• Mercer International reported a loss of $1.29 EPS for its last quarter, significantly missing analyst estimates and indicating challenges in revenue and profitability.
• Recent analyst reports have set a consensus price target of $4.25 for Mercer stock, with multiple firms cutting their previous targets amid a generally cautious outlook.

Mercer International Inc. (NASDAQ:MERC - Get Free Report) TSE: MRI.U Director Linda J. Welty acquired 10,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was acquired at an average price of $3.09 per share, with a total value of $30,900.00. Following the purchase, the director owned 36,290 shares in the company, valued at approximately $112,136.10. This represents a 38.04% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mercer International Price Performance

Shares of MERC stock traded up $0.02 during mid-day trading on Friday, reaching $3.25. The company's stock had a trading volume of 846,641 shares, compared to its average volume of 1,387,377. Mercer International Inc. has a 1-year low of $2.59 and a 1-year high of $8.28. The company has a market cap of $217.69 million, a P/E ratio of -1.99 and a beta of 1.08. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.73 and a current ratio of 3.10. The firm's 50-day moving average is $3.47 and its two-hundred day moving average is $4.68.

Mercer International (NASDAQ:MERC - Get Free Report) TSE: MRI.U last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.73) by ($0.56). Mercer International had a negative net margin of 5.60% and a negative return on equity of 23.88%. The business had revenue of $453.52 million during the quarter, compared to analyst estimates of $514.46 million. On average, research analysts predict that Mercer International Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

MERC has been the subject of a number of recent research reports. TD Securities dropped their price objective on shares of Mercer International from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. CIBC dropped their target price on shares of Mercer International from $5.00 to $4.00 and set a "neutral" rating for the company in a research report on Tuesday, July 22nd. Finally, Raymond James Financial dropped their target price on shares of Mercer International from $7.00 to $5.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.25.

Institutional Investors Weigh In On Mercer International

A number of hedge funds have recently made changes to their positions in MERC. Quantbot Technologies LP increased its position 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 acquiring an additional 18,508 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Mercer International in the 2nd quarter valued at about $244,000. Jump Financial LLC increased 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 acquiring an additional 214,008 shares in the last quarter. Finally, Gabelli Funds LLC acquired a new stake in Mercer International in the 2nd quarter valued at about $1,804,000. Institutional investors and hedge funds own 85.79% of the company's stock.

Mercer International Company Profile

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.