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Mercia Asset Management ( (GB:MERC) ) has shared an announcement.
Mercia Asset Management PLC has executed a share buyback program, purchasing 27,000 ordinary shares at a price of 29.50 pence each on the London Stock Exchange. The company plans to cancel these shares, which will adjust the total number of shares in issue to 429,678,743. This move is part of a broader strategy to manage the company’s capital structure and could potentially 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 in the financial industry, focusing on asset management services and is listed on the London Stock Exchange’s AIM market.
Average Trading Volume: 349,449
Technical Sentiment Signal: Sell
Current Market Cap: £126.8M
See more insights into MERC stock on TipRanks’ Stock Analysis page.