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Mercia Asset Management ( (GB:MERC) ) has issued an update.
Mercia Asset Management PLC announced the purchase of 85,000 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 30.20 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 Hold with a £33.00 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 by its strong financial stability and positive corporate events, such as share buybacks and strategic board appointments. However, the high P/E ratio and mixed technical indicators suggest caution. The absence of earnings call data limits insights into future guidance.
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 financial services industry, focusing on managing private capital and investments.
Average Trading Volume: 376,414
Technical Sentiment Signal: Buy
Current Market Cap: £130.9M
Learn more about MERC stock on TipRanks’ Stock Analysis page.