Mercia Asset Management (LON:MERC) Given Buy Rating at Canaccord Genuity Group

Mercia Asset Management (LON:MERC)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a GBX 64 ($0.85) price objective 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 opened at GBX 30 ($0.40) on Wednesday. The company’s fifty day simple moving average is GBX 25.71 and its 200-day simple moving average is GBX 28.21. The company has a market cap of £131.94 million, a P/E ratio of 0.31 and a beta of 1.20. The company has a current ratio of 4.41, a quick ratio of 5.34 and a debt-to-equity ratio of 0.37. Mercia Asset Management has a twelve month low of GBX 22 ($0.29) and a twelve month high of GBX 37 ($0.49).

Insiders Place Their Bets

In other Mercia Asset Management news, insider Martin James Glanfield acquired 129,624 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of GBX 27 ($0.36) per share, with a total value of £34,998.48 ($46,435.56). 27.11% of the stock is owned by insiders.

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.