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Mercia Asset Management ( (GB:MERC) ) just unveiled an update.
Mercia Asset Management PLC has executed a share buyback program, purchasing 85,000 of its own ordinary shares at a price of 32.70 pence each on the London Stock Exchange. This move, part of a previously announced buyback initiative, reduces the number of shares in circulation, potentially increasing the value of remaining shares and reflecting confidence in the company’s financial health.
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 solid financial performance is the most significant factor, supported by strong revenue growth and a stable balance sheet. However, technical indicators suggest a bearish trend, and the high P/E ratio indicates overvaluation, which negatively impacts the overall score.
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 is involved in managing and investing in private capital, with a focus on regional markets.
Average Trading Volume: 492,838
Technical Sentiment Signal: Strong Buy
Current Market Cap: £140.2M
See more insights into MERC stock on TipRanks’ Stock Analysis page.