Mercia Asset Management (LON:MERC) Trading Down 1.5% - Here's Why

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.

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

Wall Street Analysts Forecast Growth

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

Mercia Asset Management Price Performance

The firm's 50-day moving average is GBX 32.43 and its two-hundred day moving average is GBX 29.46. The company has a market cap of £138.09 million, a P/E ratio of 4,000.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.37, a current ratio of 4.41 and a quick ratio of 5.34.

Mercia Asset Management (LON:MERC - Get Free Report) last announced 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 net margin of 1,438.02% and a return on equity of 223.48%. Analysts anticipate that Mercia Asset Management PLC will post 0.9368771 earnings per share for the current year.

Insider Buying and Selling at Mercia Asset Management

In other news, insider Mark Andrew Payton acquired 90,849 shares of the company's stock in a transaction on Monday, July 28th. The stock was bought at an average cost of GBX 32 per share, with a total value of £29,071.68. Also, insider Martin James Glanfield acquired 157,475 shares of the company's stock in a transaction on Monday, July 28th. The shares were purchased at an average cost of GBX 33 per share, with a total value of £51,966.75. Insiders have acquired 348,164 shares of company stock valued at $11,353,141 over the last ninety days. 18.03% of the stock is owned by insiders.

About Mercia Asset Management

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".