Mercia Asset Management (LON:MERC) Reaches New 1-Year High - Here's Why

Key Points

• Mercia Asset Management shares reached a new 52-week high of GBX 32 during Wednesday trading, last trading at GBX 30.50.
• Canaccord Genuity reaffirmed its “Buy” rating and GBX 67 price target; the stock’s consensus rating is also “Buy” from one covering analyst.
• Insiders bought 225,892 shares worth approximately £5.99 million over the past 90 days, with insiders owning 18.62% of the company.

Shares of Mercia Asset Management PLC (LON:MERC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as GBX 32 and last traded at GBX 30.50, with a volume of 710,392 shares. The stock had previously closed at GBX 30.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a GBX 67 target price on shares of Mercia Asset Management in a research report on Thursday, September 24th. One analyst has rated the stock with a Buy rating. According to MarketBeat.com, Mercia Asset Management has an average rating of "Buy" and an average price target of GBX 67.

Mercia Asset Management Price Performance

The stock has a market cap of £128.19 million, a price-to-earnings ratio of -15.25 and a beta of 0.80. The stock has a fifty day simple moving average of GBX 28.22 and a 200-day simple moving average of GBX 28.10. The company has a current ratio of 99.15, a quick ratio of 5.34 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling at Mercia Asset Management

In related news, insider Martin James Glanfield bought 104,132 shares of Mercia Asset Management stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of GBX 26 per share, for a total transaction of £27,074.32. Also, insider Mark Andrew Payton bought 56,083 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of GBX 27 per share, with a total value of £15,142.41. Insiders acquired a total of 225,892 shares of company stock worth $5,994,952 over the last 90 days. Company insiders own 18.62% 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.

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