Close Brothers Group (LON:CBG) Shares Down 21.6% – Time to Sell?

Close Brothers Group plc (LON:CBG)’s share price was down 21.6% during trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares were traded during trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a report on Thursday, February 13th.

Close Brothers Group Price Performance

The company has a market capitalization of £412.81 million, a P/E ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average price of GBX 307.19 and a 200-day moving average price of GBX 313.28.

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

Insider Buying and Selling at Close Brothers Group

In other news, insider Michael N. Biggs acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of GBX 288 ($3.75) per share, for a total transaction of £14,400 ($18,732.93). Corporate 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.