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Mercia Asset Management ( (GB:MERC) ) just unveiled an announcement.
Mercia Asset Management PLC has executed a share buyback, purchasing 110,000 of its own ordinary shares at a price of 30 pence each on the London Stock Exchange. This transaction is part of a previously announced Share Buyback Programme, with the intention to cancel the shares, thereby reducing the number of shares in circulation. This move may impact shareholder calculations regarding their interests under the Financial Conduct Authority’s rules.
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, focusing on asset management and investment, and is listed on the London Stock Exchange’s AIM market.
Average Trading Volume: 376,290
Technical Sentiment Signal: Hold
Current Market Cap: £129.2M
For an in-depth examination of MERC stock, go to TipRanks’ Overview page.