Close Brothers Group (LON:CBG) Hits New 1-Year Low – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s share price reached a new 52-week low on Monday . The stock traded as low as GBX 202.80 ($2.64) and last traded at GBX 207.20 ($2.70), with a volume of 1379776 shares trading hands. The stock had previously closed at GBX 205.46 ($2.67).

Wall Street Analysts Forecast Growth

CBG has been the topic of several analyst reports. Royal Bank of Canada raised shares of Close Brothers Group to an “outperform” rating and lifted their price target for the stock from GBX 375 ($4.88) to GBX 620 ($8.07) in a report on Thursday, August 29th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Friday, October 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 556.60 ($7.25).

Close Brothers Group Price Performance

The stock has a market cap of £311.82 million, a price-to-earnings ratio of 342.67, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The firm’s 50-day moving average is GBX 394.79 and its 200 day moving average is GBX 448.77.

Insiders Place Their Bets

In related news, insider Michael N. Biggs bought 3,500 shares of the stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of GBX 416 ($5.42) per share, with a total value of £14,560 ($18,953.40). Over the last three months, insiders have acquired 3,567 shares of company stock valued at $1,485,824. Company 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.