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

Close Brothers Group plc (LON:CBG)’s stock price rose 21.6% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). Approximately 4,494,428 shares traded hands 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).

Analysts Set New Price Targets

CBG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) price target 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The stock has a market capitalization of £447.86 million, a PE ratio of 496.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock’s 50 day moving average is GBX 223.28 and its two-hundred day moving average is GBX 364.62.

Insider Buying and Selling at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred 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 insiders.

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.