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

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

Mercia Asset Management Price Performance

Shares of MERC stock opened at GBX 33 ($0.44) on Thursday. The stock has a 50-day moving average price of GBX 34.38 and a 200 day moving average price of GBX 33.31. The company has a quick ratio of 5.34, a current ratio of 4.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of £142.33 million, a price-to-earnings ratio of -1,650.00 and a beta of 1.20. Mercia Asset Management has a 12 month low of GBX 21 ($0.28) and a 12 month high of GBX 37 ($0.50).

Mercia Asset Management Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 3rd will be given a GBX 0.55 ($0.01) dividend. 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 of this dividend is Thursday, October 3rd. Mercia Asset Management’s dividend payout ratio (DPR) is presently -5,000.00%.

Insider Buying and Selling

In related news, insider Martin James Glanfield bought 119,223 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was bought at an average cost of GBX 35 ($0.47) per share, for a total transaction of £41,728.05 ($55,875.80). Corporate insiders own 27.09% of the company’s stock.

Mercia Asset Management Company Profile

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.