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

Key Points

• Mercia Asset Management PLC shares experienced a decline of 1.5%, trading at GBX 32.02, with a significant drop in volume at 284,242 shares compared to the average of 577,007.
• Analysts from Canaccord Genuity Group upgraded the company's target price from GBX 64 to GBX 67, maintaining a "buy" rating with an average price target of GBX 65.50.
• Insider trading activity includes the purchase of 348,164 shares worth over $11 million by company insiders, indicating strong confidence in the stock's future performance.

Mercia Asset Management PLC (LON:MERC - Get Free Report)'s stock price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as GBX 32 ($0.43) and last traded at GBX 32.02 ($0.43). Approximately 284,242 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 577,007 shares. The stock had previously closed at GBX 32.50 ($0.44).

Wall Street Analyst Weigh In

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

Mercia Asset Management Stock Down 1.4%

The company has a debt-to-equity ratio of 0.37, a current ratio of 4.41 and a quick ratio of 5.34. The firm has a market cap of £136.55 million, a PE ratio of 0.32 and a beta of 1.20. The business has a fifty day moving average price of GBX 32.12 and a two-hundred day moving average price of GBX 28.88.

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%. On average, analysts anticipate that Mercia Asset Management PLC will post 0.9368771 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Martin James Glanfield acquired 157,475 shares of Mercia Asset Management stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average price of GBX 33 per share, with a total value of £51,966.75. Also, insider Mark Andrew Payton acquired 51,479 shares of Mercia Asset Management stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average cost of GBX 33 per share, with a total value of £16,988.07. In the last three months, insiders have purchased 348,164 shares of company stock valued at $11,353,141. Insiders own 27.11% 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".