Mercia Asset Management (LON:MERC) Stock Rating Reaffirmed as Buy by Canaccord Genuity Group

Mercia Asset Management (LON:MERC)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity Group in a note issued to investors on Thursday, Marketbeat reports. They presently have a GBX 67 target price on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 138.77% from the stock’s current price.

Mercia Asset Management Trading Down 0.5%

LON:MERC traded down GBX 0.13 during trading hours on Thursday, reaching GBX 28.06. The company’s stock had a trading volume of 1,778,564 shares, compared to its average volume of 606,902. The firm has a 50-day simple moving average of GBX 26.90 and a 200-day simple moving average of GBX 27.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.34 and a current ratio of 99.15. Mercia Asset Management has a 1 year low of GBX 25.12 and a 1 year high of GBX 34. The firm has a market capitalization of £118.14 million, a price-to-earnings ratio of -14.03 and a beta of 0.76.

Mercia Asset Management (LON:MERC) last released its earnings results on Tuesday, June 30th. The company reported GBX (2) earnings per share for the quarter. Mercia Asset Management had a negative net margin of 25.23% and a negative return on equity of 4.78%. Research analysts expect that Mercia Asset Management will post 0.9368771 EPS for the current fiscal year.

Insider Transactions at Mercia Asset Management

In other news, insider Martin James Glanfield acquired 104,132 shares of the stock in a transaction dated Thursday, August 20th. The stock was purchased at an average cost of GBX 26 per share, with a total value of £27,074.32. Also, insider Mark Andrew Payton bought 65,677 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of GBX 27 per share, for a total transaction of £17,732.79. Insiders acquired 225,892 shares of company stock worth $5,994,952 in the last 90 days. Corporate insiders own 18.61% of the company’s stock.

About Mercia Asset Management

Mercia is a regionally focused private capital asset manager with c.£2.0billion of AuM, investing across venture capital, private debt, private equity and property development finance. Our purpose is to deliver long-term value for investors while supporting the growth and resilience of the UK economy.