Shares of Mercia Asset Management PLC (LON:MERC – Get Free Report) traded down 1.5% during trading on Wednesday . The company traded as low as GBX 33 ($0.44) and last traded at GBX 33 ($0.44). 646,066 shares were traded during mid-day trading, a decline of 18% from the average session volume of 786,498 shares. The stock had previously closed at GBX 33.50 ($0.44).
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 64 ($0.85) price objective on shares of Mercia Asset Management in a research report on Tuesday, July 2nd.
Check Out Our Latest Report on MERC
Mercia Asset Management Stock Performance
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 given a GBX 0.55 ($0.01) dividend. This represents a yield of 1.77%. This is a boost 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 Activity
In other Mercia Asset Management news, insider Martin James Glanfield acquired 119,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were bought at an average price of GBX 35 ($0.46) per share, with a total value of £41,728.05 ($55,122.92). Insiders own 27.09% of the company’s stock.
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.
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