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Mercia Asset Management ( (GB:MERC) ) has shared an announcement.
Mercia Asset Management PLC has executed a purchase of 60,000 of its own ordinary shares at a price of 29.40 pence each as part of its ongoing Share Buyback Programme. This transaction, conducted on the London Stock Exchange, aims to reduce the number of shares in circulation, potentially enhancing shareholder value. Following this buyback, the company will have 429,763,743 ordinary shares in issue, excluding treasury shares, and holds 12,012,387 shares in treasury. The buyback is part of a strategic effort to manage the company’s capital structure effectively.
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 in assets under management. The company operates within the financial services industry, primarily focusing on asset management and investment services, and is listed on the London Stock Exchange’s AIM market.
Average Trading Volume: 335,644
Technical Sentiment Signal: Sell
Current Market Cap: £126.8M
Learn more about MERC stock on TipRanks’ Stock Analysis page.