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Mercia Asset Management ( (GB:MERC) ) has issued an announcement.
Mercia Asset Management PLC has executed a share buyback program, purchasing 90,000 ordinary shares on the London Stock Exchange at an average price of 30.11 pence per share. This move is part of a strategic plan to manage its share capital, and the company intends to cancel the purchased shares, impacting the total number of shares in circulation and potentially affecting shareholder calculations under regulatory guidelines.
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 in the financial services industry, primarily focusing on asset management and investment services, with a market focus on private capital investments.
Average Trading Volume: 400,512
Technical Sentiment Signal: Hold
Current Market Cap: £129.3M
See more data about MERC stock on TipRanks’ Stock Analysis page.