Canaccord Genuity Group Reaffirms Buy Rating for Mercia Asset Management (LON:MERC)

Mercia Asset Management (LON:MERC)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a report released on Wednesday,Digital Look reports. They presently have a GBX 64 ($0.85) price objective on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 120.69% from the company’s previous close.

Mercia Asset Management Stock Performance

LON MERC traded up GBX 3.50 ($0.05) during trading on Wednesday, reaching GBX 29 ($0.38). 840,146 shares of the company’s stock were exchanged, compared to its average volume of 717,201. 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 has a fifty-two week low of GBX 22 ($0.29) and a fifty-two week high of GBX 37 ($0.49). The business has a 50 day moving average price of GBX 25.64 and a 200-day moving average price of GBX 28.22. The stock has a market capitalization of £127.54 million, a P/E ratio of 0.30 and a beta of 1.20.

Insider Buying and Selling at Mercia Asset Management

In other news, insider Martin James Glanfield bought 129,624 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were bought at an average price of GBX 27 ($0.36) per share, with a total value of £34,998.48 ($46,318.79). Insiders own 27.11% of the company’s stock.

Mercia Asset Management Company Profile

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group’s ‘Complete Capital Solution’. The Group initially nurtures businesses via its third-party funds under management then, over time, Mercia can provide further funding to the most promising companies by deploying direct investment follow-on capital from its own balance sheet.