Mercia Asset Management (LON:MERC) Trading Down 3.3% - Time to Sell?

Key Points

• Mercia Asset Management shares fell by 3.3% in mid-day trading, with the stock price dropping to GBX 29 ($0.39), significantly lower than its previous close of GBX 30 ($0.40).
• Despite the drop, analysts from Canaccord Genuity Group maintain a "buy" rating with a target price of GBX 67, reflecting a consensus rating of "Buy" for the stock.
• Insider purchases indicate confidence in the company, as insiders acquired a total of 348,164 shares valued at approximately $11.35 million in the last 90 days.

Mercia Asset Management PLC (LON:MERC - Get Free Report)'s share price dropped 3.3% during mid-day trading on Friday . The stock traded as low as GBX 29 ($0.39) and last traded at GBX 29 ($0.39). Approximately 226,161 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 542,482 shares. The stock had previously closed at GBX 30 ($0.40).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 67 price target on shares of Mercia Asset Management in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mercia Asset Management presently has a consensus rating of "Buy" and an average target price of GBX 67.

Mercia Asset Management Stock Down 3.3%

The business's 50 day moving average is GBX 32.01 and its 200 day moving average is GBX 30.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.34 and a current ratio of 4.41. The stock has a market cap of £125.05 million, a price-to-earnings ratio of 3,625.00 and a beta of 1.20.

Insider Buying and Selling

In other news, insider Martin James Glanfield acquired 157,475 shares of the firm's 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 90,849 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of GBX 32 per share, with a total value of £29,071.68. Insiders purchased a total of 348,164 shares of company stock valued at $11,353,141 in the last ninety days. Company insiders own 18.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.