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

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

Mercia Asset Management Stock Performance

LON MERC opened at GBX 33 ($0.44) on Thursday. Mercia Asset Management has a one year low of GBX 21 ($0.28) and a one year high of GBX 37 ($0.50). The company has a 50-day simple moving average of GBX 34.38 and a 200-day simple moving average of 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. The firm has a market capitalization of £142.33 million, a PE ratio of -1,650.00 and a beta of 1.20.

Mercia Asset Management Increases Dividend

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

Insider Buying and Selling at Mercia Asset Management

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