Close Brothers Group (LON:CBG) Stock Price Up 21.6% – What’s Next?

by · The Cerbat Gem

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

Wall Street Analysts Forecast Growth

CBG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Close Brothers Group currently has an average rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Get Our Latest Report on Close Brothers Group

Close Brothers Group Stock Up 21.6 %

The firm has a market capitalization of £447.86 million, a P/E ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The business’s 50-day simple moving average is GBX 223.28 and its 200 day simple moving average is GBX 364.62.

Insider Activity at Close Brothers Group

In other Close Brothers Group 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 value of £26,232.85 ($32,342.31). 2.91% of the stock is owned by insiders.

About Close Brothers Group

(Get Free Report)

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.

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