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Mercia Asset Management ( (GB:MERC) ) has issued an announcement.
Mercia Asset Management PLC has announced the purchase of 90,000 of its own ordinary shares at a price of 30.50 pence each as part of its Share Buyback Programme. These shares, traded on the London Stock Exchange’s AIM, will be canceled, reducing the total number of shares in circulation. This move is part of Mercia’s strategy to manage its share capital effectively and could impact shareholder calculations regarding their interest in the company.
The most recent analyst rating on (GB:MERC) stock is a Hold with a £32.00 price target. To see the full list of analyst forecasts on Mercia Asset Management stock, see the GB:MERC Stock Forecast page.
Spark’s Take on GB:MERC Stock
According to Spark, TipRanks’ AI Analyst, GB:MERC is a Neutral.
Mercia Asset Management’s overall stock score is driven primarily by its solid financial performance, characterized by strong revenue growth and a stable balance sheet. However, the technical analysis indicates potential bearish momentum, and the high P/E ratio suggests overvaluation concerns. The absence of earnings call data and corporate events limits further insights.
To see Spark’s full report on GB:MERC stock, click here.
More about Mercia Asset Management
Mercia Asset Management PLC is a regionally focused private capital asset manager with approximately £2.0 billion of assets under management. The company operates within the financial services industry, primarily focusing on asset management and investment services, with a market focus on regional investments.
Average Trading Volume: 520,698
Technical Sentiment Signal: Buy
Current Market Cap: £133.6M
See more data about MERC stock on TipRanks’ Stock Analysis page.