Close Brothers Group (LON:CBG) Trading Down 21.6% – Time to Sell?

Close Brothers Group plc (LON:CBG) shares traded down 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 125,087,578 shares traded hands during mid-day trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.48).

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBG. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating for the company in a research report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Price Performance

The firm has a market capitalization of £412.81 million, a PE ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82. The company’s fifty day simple moving average is GBX 307.19 and its 200 day simple moving average is GBX 313.28.

Close Brothers Group (LON:CBG) last announced its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. On average, analysts anticipate that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Transactions at Close Brothers Group

In other news, insider Michael N. Biggs purchased 5,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average cost of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). Corporate insiders own 2.91% of the company’s stock.

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.