Close Brothers Group (LON:CBG) Stock Crosses Above 200 Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 286.70 ($3.72) and traded as high as GBX 289.80 ($3.76). Close Brothers Group shares last traded at GBX 276.51 ($3.59), with a volume of 584,640 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CBG. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a GBX 430 ($5.58) price target on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Stock Up 3.3 %

The stock has a market capitalization of £416.60 million, a P/E ratio of 4.17, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50 day simple moving average of GBX 312.13 and a two-hundred day simple moving average of GBX 286.70.

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

Insider Activity

In other Close Brothers Group news, insider Michael N. Biggs bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of GBX 288 ($3.74) per share, with a total value of £14,400 ($18,691.59). Insiders own 2.91% 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.