Mercia Asset Management’s (MERC) Buy Rating Reiterated at Canaccord Genuity Group

Mercia Asset Management (LON:MERC)‘s stock had its “buy” rating reissued by equities research 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 target price would suggest a potential upside of 120.69% from the stock’s previous close.

Mercia Asset Management Trading Up 13.7 %

Shares of LON:MERC traded up GBX 3.50 ($0.05) during mid-day trading on Wednesday, reaching GBX 29 ($0.38). The stock had a trading volume of 840,146 shares, compared to its average volume of 717,201. The firm has a 50 day simple moving average of GBX 25.64 and a two-hundred day simple moving average of GBX 28.22. The firm has a market cap of £127.54 million, a PE ratio of 0.30 and a beta of 1.20. Mercia Asset Management has a twelve month low of GBX 22 ($0.29) and a twelve month high of GBX 37 ($0.49). The company has a current ratio of 4.41, a quick ratio of 5.34 and a debt-to-equity ratio of 0.37.

Insiders Place Their Bets

In other Mercia Asset Management news, insider Martin James Glanfield purchased 129,624 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average cost of GBX 27 ($0.36) per share, with a total value of £34,998.48 ($46,318.79). Corporate 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.