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

Canaccord Genuity Group reiterated their buy rating on shares of Mercia Asset Management (LON:MERC) in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have a GBX 64 ($0.86) target price on the stock.

Mercia Asset Management Stock Performance

LON MERC opened at GBX 33 ($0.44) on Thursday. The stock has a market capitalization of £142.33 million, a price-to-earnings ratio of -1,650.00 and a beta of 1.20. The stock’s 50 day moving average price is GBX 34.38 and its two-hundred day moving average price is GBX 33.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.34 and a current ratio of 4.41. Mercia Asset Management has a 52 week low of GBX 21 ($0.28) and a 52 week high of GBX 37 ($0.50).

Mercia Asset Management Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 3rd will be issued a dividend of GBX 0.55 ($0.01) per share. The ex-dividend date of this dividend is Thursday, October 3rd. This is a positive change from Mercia Asset Management’s previous dividend of $0.35. This represents a dividend yield of 1.77%. Mercia Asset Management’s payout ratio is presently -5,000.00%.

Insider Buying and Selling

In other news, insider Martin James Glanfield acquired 119,223 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were purchased at an average cost of GBX 35 ($0.47) per share, with a total value of £41,728.05 ($55,875.80). 27.09% of the stock is owned by insiders.

About Mercia Asset Management

Mercia Asset Management PLC is a private equity and venture capital firm specializing in incubation, seed EIS, early stage, emerging growth, mid venture, late stage and growth capital investments. It invests in technology focusing on sectors such as digital entertainment, consumer services, media, retailing, energy, healthcare, industrials, materials, real estate, telecommunication services, gaming, internet, software, electronics and hardware, advanced materials, transportation, biosciences, engineering and specialist manufacturing, and life sciences.