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

Close Brothers Group plc (LON:CBG) was up 21.6% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.68). 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 Analyst Weigh In

Several brokerages have weighed in on CBG. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 610 ($7.53) target price on shares of Close Brothers Group in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 556.60 ($6.88).

Close Brothers Group Stock Performance

The company has a market capitalization of £449.66 million, a P/E ratio of 498.00, a P/E/G ratio of 1.87 and a beta of 0.82. The firm’s fifty day moving average is GBX 227.33 and its 200 day moving average is GBX 362.32.

Insider Activity

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.98), for a total value of £26,232.85 ($32,402.24). 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.