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Mercia Asset Management ( (GB:MERC) ) just unveiled an update.
Mercia Asset Management PLC has executed a purchase of 120,000 of its own ordinary shares on the London Stock Exchange as part of its Share Buyback Programme. The shares were bought at a price of 33.00 pence each and will be canceled, reducing the total number of shares in circulation. This move is part of Mercia’s strategy to manage its share capital and potentially enhance shareholder value.
The most recent analyst rating on (GB:MERC) stock is a Buy with a £64.00 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 Outperform.
Mercia Asset Management’s overall stock score reflects a strong financial position and positive technical indicators, bolstered by strategic corporate actions like share buybacks and executive share purchases. However, the high P/E ratio suggests potential overvaluation, which tempers the overall score.
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 primarily in the asset management industry, focusing on managing private capital and investments.
Average Trading Volume: 518,240
Technical Sentiment Signal: Strong Buy
Current Market Cap: £142.5M
Find detailed analytics on MERC stock on TipRanks’ Stock Analysis page.