Close Brothers Group (LON:CBG) Shares Up 22.6% – What’s Next?

by · The Markets Daily

Shares of Close Brothers Group plc (LON:CBG – Get Free Report) were up 22.6% on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 300.20 ($3.70). Approximately 39,995,934 shares changed hands during trading, an increase of 542% from the average daily volume of 6,230,019 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on CBG

Close Brothers Group Price Performance

The firm has a market capitalization of £447.86 million, a price-to-earnings ratio of 496.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The business has a fifty day moving average price of GBX 223.28 and a two-hundred day moving average price of GBX 364.62.

Insider Buying and Selling

In related news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 corporate 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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