Canaccord Genuity Group Reaffirms Buy Rating for Mercia Asset Management (LON:MERC)

Key Points

• Canaccord Genuity Group has reaffirmed a buy rating for Mercia Asset Management (LON:MERC) with a price target of GBX 67, indicating a potential upside of 102.78%.
• Mercia Asset Management reported a net margin of 1,438.02% and a return on equity of 223.48% in its latest quarterly earnings.
• Insider transactions revealed significant investments, with insiders acquiring a total of 348,164 shares in the last quarter, indicating strong confidence in the company's future.

Mercia Asset Management (LON:MERC - Get Free Report)'s stock had its "buy" rating reaffirmed by Canaccord Genuity Group in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a GBX 67 price objective on the stock. Canaccord Genuity Group's price target points to a potential upside of 102.78% from the stock's previous close.

Mercia Asset Management Trading Up 0.1%

MERC stock opened at GBX 33.04 on Thursday. The company's 50-day simple moving average is GBX 32.48 and its 200 day simple moving average is GBX 29.78. The company has a market capitalization of £142.58 million, a PE ratio of 4,130.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.34 and a current ratio of 4.41. Mercia Asset Management has a 52 week low of GBX 22 and a 52 week high of GBX 35.60.

Mercia Asset Management (LON:MERC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported GBX 0.80 earnings per share (EPS) for the quarter. Mercia Asset Management had a net margin of 1,438.02% and a return on equity of 223.48%. As a group, sell-side analysts anticipate that Mercia Asset Management will post 0.9368771 earnings per share for the current year.

Insiders Place Their Bets

In other Mercia Asset Management news, insider Mark Andrew Payton purchased 90,849 shares of the business's stock in a transaction dated Monday, July 28th. The shares were bought at an average price of GBX 32 per share, for a total transaction of £29,071.68. Also, insider Martin James Glanfield acquired 157,475 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average cost of GBX 33 per share, for a total transaction of £51,966.75. In the last quarter, insiders have bought 348,164 shares of company stock worth $11,353,141. 18.03% of the stock is owned by company insiders.

Mercia Asset Management Company Profile

Mercia is a private capital asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of venture, debt, private equity and proprietary capital: the Group's 'Complete Connected Capital'. The Group has a strong UK footprint through its 11 regional offices, extensive local adviser and personal networks, and university partnerships, providing it with access to high-quality deal flow. Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".

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