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Morphic Ethical Equities Fund Ltd. ( (AU:MEC) ) just unveiled an update.
Morphic Ethical Equities Fund Limited has provided an updated notification to the ASX regarding its ongoing on-market share buy-back program for its ordinary fully paid shares (MEC). As part of its daily buy-back disclosure, the fund reported that it had repurchased a total of 388,672 shares prior to the previous trading day and a further 9,825 shares on the previous day, reflecting continued execution of the capital management initiative first notified in April 2023 and regularly updated to the market. The ongoing buy-back may support capital efficiency and potentially enhance value for remaining shareholders by reducing the number of shares on issue.
The most recent analyst rating on (AU:MEC) stock is a Buy with a A$1.50 price target. To see the full list of analyst forecasts on Morphic Ethical Equities Fund Ltd. stock, see the AU:MEC Stock Forecast page.
More about Morphic Ethical Equities Fund Ltd.
Morphic Ethical Equities Fund Limited is an Australian-listed investment company trading under ASX code MEC, focused on managing a portfolio of ethically screened equity investments. The fund offers ordinary fully paid shares to investors seeking exposure to equities aligned with ethical and responsible investment criteria.
Average Trading Volume: 20,403
Technical Sentiment Signal: Buy
For detailed information about MEC stock, go to TipRanks’ Stock Analysis page.