Close Brothers Group (LON:CBG) Trading 21.6% Higher – Here’s Why

Shares of Close Brothers Group plc (LON:CBG) traded up 21.6% during mid-day trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). 4,494,428 shares traded hands during trading, an increase of 22% from the average session volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Ratings Changes

Several research firms have recently commented on CBG. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 556.60 ($6.86).

Close Brothers Group Price Performance

The company has a fifty day moving average price of GBX 223.28 and a 200 day moving average price of GBX 364.62. The company has a market capitalization of £447.86 million, a P/E ratio of 496.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling

In other news, insider Mike Morgan sold 10,885 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,346.30). 2.91% of the stock is owned by company insiders.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.