Mercia Asset Management (LON:MERC) Shares Up 2.5% - Here's Why

Key Points

• Shares rose 2.5% to GBX 30.50 on Thursday while trading volume was about 178,855 shares, roughly 78% below the stock's average daily volume.
• Canaccord Genuity reiterated a Buy rating and set a price target of GBX 67, and MarketBeat shows a consensus Buy with the same GBX 67 target, implying material upside from the current price.
• Mercia manages around £2.0 billion of AuM, has a market capitalization of £129.37 million and a trailing P/E of 39.10, reflecting its growth-oriented valuation.

Mercia Asset Management PLC (LON:MERC - Get Free Report)'s share price rose 2.5% during trading on Thursday . The company traded as high as GBX 30.50 and last traded at GBX 30.50. Approximately 178,855 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 798,168 shares. The stock had previously closed at GBX 29.75.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 67 price objective on shares of Mercia Asset Management in a report on Thursday, April 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of GBX 67.

Mercia Asset Management Trading Up 2.5%

The firm has a market capitalization of £129.37 million, a PE ratio of 39.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.34 and a current ratio of 3.28. The firm has a fifty day moving average of GBX 28.44 and a 200 day moving average of GBX 28.78.

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.

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