Close Brothers Group (LON:CBG) Shares Up 21.6% – Time to Buy?

Posted by Amy Steele on Jan 24th, 2025

Close Brothers Group plc (LON:CBG – Get Free Report)’s share price was up 21.6% during mid-day trading on Tuesday . The company 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 Analysts Forecast Growth

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

Check Out Our Latest Report on CBG

Close Brothers Group Trading Down 2.9 %

The company has a market cap of £449.66 million, a P/E ratio of 498.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The company’s fifty day moving average is GBX 227.33 and its 200 day moving average is GBX 362.32.

Insider Activity

In related news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.98), for a total transaction of £26,232.85 ($32,402.24). Insiders own 2.91% of the company’s stock.

Close Brothers Group Company Profile

(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.