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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mercia Asset Management Plc | LSE:MERC | London | Ordinary Share | GB00BSL71W47 | ORD 0.001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.30 | 0.91% | 33.10 | 32.60 | 33.60 | 33.10 | 32.80 | 32.80 | 88,250 | 08:35:54 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 25.88M | 2.84M | - | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
23/3/2024 16:03 | A facile comment. Presumably you invest in the UK where many companies get taken over by predators who see value where the market doesn’t. That’s what will happen here imo. | columbarius | |
22/3/2024 17:40 | It never gets near the NAV. Why. Is it fictional? red | redartbmud | |
22/3/2024 17:01 | Valuing this on pe ratio isn’t sensible as profit is lumpy depending on when they cash in portfolio companies. As pointed out NAV is more important. They’re building a very interesting business that will have strategic value to someone at some stage. | columbarius | |
22/3/2024 09:10 | RED - look at the NAV. | weatherman | |
22/3/2024 08:42 | Or read the RNS/this thread, and see how much business they've been winning, and what a fwd p/e might be, & what future realisations might look like, and what the NAV currently is. | spectoacc | |
22/3/2024 08:26 | H-L has a PE of 51.65 and a yield of 2.065% Can't see where it is going above 33p But at 29p and sell at 33p? red | redartbmud | |
22/3/2024 08:17 | Seems a little disingenuous: " Forward Nominees Limited, an entity closely associated with Ray Chamberlain, a Non‐executive Director of the Company, has sold 1,563,813 Ordinary shares. The Shares were sold on 21 March 2024 at 32.50p per share by non‐Chamberlai | spectoacc | |
21/3/2024 18:56 | Like i said just a few short weeks ago, “…the sharebuy back seems to be working a treat , so far. There is just so much value here that even going from bombed out ( 25p) to lacklustre (40p ish ?) will be transformational for me and others and then you have the divis which look sustainable and growing . If , excessive pay aside, investors warm to the virtues of the business model , it might even get towards 50p. If they keep adding FUM as they have been doing and get a few more winners, it could go a lot higher still , say 60p. It is not impossible.” | robsy2 | |
21/3/2024 18:53 | Yep. This is really perking up now and none of this is to do with exits.It pays a pretty reasonable dividend as well. | robsy2 | |
21/3/2024 09:16 | Pretty comfortable with their buy-back here. There's clearly still a seller/sellers, but eg 277k bought yesterday at 32.02p, and I bet that 185k at 32.6p today could be them, soaking up a series of smaller sells. | spectoacc | |
21/3/2024 07:46 | This £4m net revenue p.a. contrasts with the £15m of revenue in H1 of the current FY. | cerrito | |
21/3/2024 07:27 | Agreed, glad they put the amount in this time, and seemingly to be managed with existing resources so hopefully a fair bit of that £4m falls to the bottom line. | spectoacc | |
21/3/2024 07:20 | 2 new mandates won with BBB and importantly they disclose that the NIM on the awards with BBB are 110bps which is good to know, 4m incremental revenue on ytd awards of 360m. Merc is flying! | rimau1 | |
14/3/2024 11:38 | That note from Singer reads well daveb. This should be the low point in the cycle, i remain bullish | rimau1 | |
14/3/2024 09:39 | Singer - Successful VCT fundraise and syndicated investments In the last 24 hours, Mercia has announced a successful £60m fund raise into its Northern VCTs alongside participation into three syndicated investment rounds for on-balance sheet investees. Both validate the potential value creation from existing portfolio investments and Mercia’s ability to originate and support attractive new opportunities; made all the more impressive given these transactions have been completed against a more challenging backdrop for fundraising. Following success in the recent British Business Bank MEIF bid process, we expect to hear the outcome of the Northern Powerhouse process in the coming weeks. Event Mercia has announced positive developments both yesterday and today: Today: participation in three syndicated investment rounds using balance sheet capital MIP Discovery (Mercia’s fully diluted stake is now 11.5%) - £1.2m (£7.1m total round) invested to drive commercialisation; Locate Bio (20.1%) - £2.5m (£8.4m total round, oversubscribed) invested to progress the ongoing clinical study of its LDGraft product, and; Warwick Acoustics (36.5%) - £2.0m (£6.9m total round) invested to scale production capacity following its maiden OEM contract win and to support R&D. Although investments in new balance sheet holdings remains paused, Mercia’s considerable liquidity (~£50m pf cash) can be used to support the growth aspirations of existing investments and catalyse value creation, alongside external investors (c.80% participation). Attracting 3rd party capital is a positive validation for the prospects of these three investees given the more challenging funding backdrop. Yesterday: successful £60m VCT fund raise In line with the usually fundraising cycle into the tax year end, Mercia’s Northern VCT range has successfully raised £60m new capital – adding to the organic growth from the recent British Business Bank (“BBB”) Midlands Engine Investment Fund (“MEIF”) win. We expect news on the BBB’s Northern Powerhouse Investment Fund (“NPIF”) bid process, which is due to come to a conclusion around the end of this month. We hope for further positive news. Impact on earnings & valuation We make no change to our forecasts, although note that the recent MEIF mandate win will have a positive impact on our outer year estimates. We will review this following Mercia’s FY update. We again reiterate considerable embedded value in Mercia shares with a SOTP approach taking into account the balance sheet value of the investment portfolio and cash alongside long-dated recurring fund management fee-related income. We reiterate BUY alongside our 66p 12m TP. | davebowler | |
13/3/2024 16:23 | 31.5/32.5 on 100k, does feel like we may finally be ready for sustained breakout. | spectoacc | |
13/3/2024 08:18 | Thanks These VCT funds are sticky as well, because I think they have to run for 5 years as a minimum and tend to run on longer and the charges are pretty high as well , 2% rings a bell from somewhere. So, if you capture 20m it gives you income of circa 2m over the next 5 years. I can only think of one bubble burster, probably not even a burster , but more of a steady bubble deflater really and that is the remuneration our BOD receive, which, like in a lot of the corporate world, is completely out of synch with what is achieved and at times seems to be barely correlated to performance.If the company does well, the shareholders do well,but pretty much whatever the company does the BOD do well. | robsy2 | |
13/3/2024 07:52 | Good spot Robsy2, announced this morning. Merc really do appear to be flying and i have no bear case to counter my bullishness here. Even in an election year Merc will benefit from a potential change in government. Any thoughts to burst my bubble? | rimau1 | |
12/3/2024 17:28 | Maybe these announcements are spiking interest? Further to the announcement made by Northern 3 VCT PLC (“the Company”) on 18 September 2023 in conjunction with Northern Venture Trust PLC and Northern 2 VCT PLC in respect of the offers of new ordinary shares for subscription in the 2023/24 tax year, the Company announces that its offer of new ordinary shares to raise a total of up to £20.0 million is now fully subscribed and no further applications will be accepted. The offers by Northern Venture Trust PLC and Northern 2 VCT PLC are now both closed to further applications. | robsy2 | |
08/3/2024 12:18 | You'd hope it's an overhang clearing, a stake going from weak hands to strong hands. The fact it was at 30p (not at a discount) is a good sign. Beyond that - who knows :) | spectoacc | |
08/3/2024 11:59 | Oh yeah!Specto What does it mean though? For every buyer there must be a seller? R | robsy2 | |
08/3/2024 10:53 | I like quiet OBs but no mention of the large trades earlier? All at 30p, adding to about 5m shares. | spectoacc | |
29/2/2024 20:07 | BBB will (and should) get a lower margin for sheer size of assets flowing in. Merc are in the growing scale phase and FUM attracts more FUM. Remember this is all annuity re-occuring multi-year income. Its excellent news and Merc are carving out a nice niche whilst remaining under the radar. | rimau1 | |
29/2/2024 19:00 | "implies minimal profit"? My view is that it has to be ostensibly competitive because it's a government entity which must be seen to be using compliant procurement processes. And competitiveness in a procurement context is not necessarily converging on minimal profit margins, there will also be scoring on service levels and competencies. | cordwainer | |
29/2/2024 13:59 | Only reservation is their description of the process being "..Very competitive..", it implies minimal profit to me. But MERC looks underrated even without today's - and possible impending - wins. At the very least, it's reputational and adds to AUM. | spectoacc |
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