Close Brothers Group (LON:CBG) Stock Jumps 14.7% – Here’s Why

Shares of Close Brothers Group plc (LON:CBG) traded up 14.7% on Tuesday. The company traded as high as GBX 445.80 and last traded at GBX 442.59. Approximately 2,477,801 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 2,419,664 shares. The stock had previously closed at GBX 386.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada downgraded Close Brothers Group to a “sector perform” rating and cut their target price for the stock from GBX 625 to GBX 470 in a research note on Monday, July 6th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Close Brothers Group currently has an average rating of “Moderate Buy” and an average price target of GBX 481.25.

Close Brothers Group Trading Up 14.7%

The business’s fifty day moving average is GBX 415.72 and its 200 day moving average is GBX 425.05. The company has a market cap of £667.07 million, a P/E ratio of -12.54, a PEG ratio of 1.87 and a beta of 1.24.

Close Brothers Group (LON:CBG) last released its earnings results on Tuesday, September 29th. The company reported GBX 47.50 earnings per share (EPS) for the quarter. Close Brothers Group had a negative return on equity of 2.03% and a negative net margin of 2.50%. As a group, research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Buying and Selling at Close Brothers Group

In related news, insider Fiona McCarthy sold 1,626 shares of Close Brothers Group stock in a transaction dated Friday, July 31st. The stock was sold at an average price of GBX 426, for a total value of £6,926.76. Insiders own 2.21% of the company’s stock.

About Close Brothers Group

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.