Mercia Asset Management (LON:MERC) Shares Down 1.5% - Here's What Happened

Key Points

• Mercia Asset Management's shares fell by 1.5% during mid-day trading, reaching a low of GBX 32 ($0.43) with a trading volume dropped by 76% from the average.
• Canaccord Genuity boosted the target price for Mercia from GBX 64 to GBX 67 and maintained a "buy" rating, with a consensus target price currently set at GBX 65.50.
• Insiders have significantly increased their holdings, buying 348,164 shares worth over £51,000 in recent transactions, reflecting confidence in the company's potential.

Mercia Asset Management PLC (LON:MERC - Get Free Report) shares fell 1.5% during mid-day trading on Wednesday . The stock traded as low as GBX 32 ($0.43) and last traded at GBX 33 ($0.45). 133,244 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 558,984 shares. The stock had previously closed at GBX 33.50 ($0.45).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their target price on Mercia Asset Management from GBX 64 to GBX 67 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Mercia Asset Management presently has a consensus rating of "Buy" and a consensus target price of GBX 65.50.

Mercia Asset Management Price Performance

The firm has a market cap of £142.40 million, a PE ratio of 4,125.00 and a beta of 1.20. The company has a quick ratio of 5.34, a current ratio of 4.41 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of GBX 32.44 and a two-hundred day moving average price of GBX 29.29.

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

Insider Transactions at Mercia Asset Management

In other news, insider Martin James Glanfield bought 157,475 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average price of GBX 33 per share, for a total transaction of £51,966.75. Also, insider Mark Andrew Payton bought 51,479 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average price of GBX 33 per share, for a total transaction of £16,988.07. Insiders have bought 348,164 shares of company stock worth $11,353,141 in the last 90 days. Insiders own 18.03% of the company's stock.

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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