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Mercia Asset Management ( (GB:MERC) ) just unveiled an update.
Mercia Asset Management PLC has executed a share buyback program, purchasing 95,000 of its own ordinary shares at a price of 33.00 pence each on the London Stock Exchange. The company plans to cancel these shares, reducing the total number of shares in circulation, which may impact shareholder calculations regarding their interest in the company’s share capital.
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 strong financial stability and positive technical indicators are key strengths. However, the high P/E ratio suggests potential overvaluation. Recent corporate actions, such as share buybacks, further enhance the stock’s attractiveness.
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 services, with its shares traded on the London Stock Exchange’s AIM market.
Average Trading Volume: 518,240
Technical Sentiment Signal: Strong Buy
Current Market Cap: £142.5M
For a thorough assessment of MERC stock, go to TipRanks’ Stock Analysis page.