Canaccord Genuity Group Reaffirms Buy Rating for Mercia Asset Management (LON:MERC)

Mercia Asset Management (LON:MERC)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a GBX 64 ($0.85) target price on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 113.33% from the stock’s previous close.

Mercia Asset Management Trading Up 3.4 %

Shares of MERC stock opened at GBX 30 ($0.40) on Wednesday. The company has a current ratio of 4.41, a quick ratio of 5.34 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of £131.94 million, a price-to-earnings ratio of 0.31 and a beta of 1.20. Mercia Asset Management has a 12-month low of GBX 22 ($0.29) and a 12-month high of GBX 37 ($0.49). The stock’s 50-day moving average price is GBX 25.71 and its 200-day moving average price is GBX 28.21.

Insider Transactions at Mercia Asset Management

In other Mercia Asset Management news, insider Martin James Glanfield bought 129,624 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were purchased at an average cost of GBX 27 ($0.36) per share, for a total transaction of £34,998.48 ($46,435.56). Insiders own 27.11% of the company’s stock.

About Mercia Asset Management

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group’s ‘Complete Capital Solution’. The Group initially nurtures businesses via its third-party funds under management then, over time, Mercia can provide further funding to the most promising companies by deploying direct investment follow-on capital from its own balance sheet.