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

Close Brothers Group plc (LON:CBG) fell 21.6% on Tuesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 125,087,578 shares were traded during mid-day trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.48).

Analysts Set New Price Targets

Several equities research analysts recently commented on CBG shares. Deutsche Bank Aktiengesellschaft dropped their target price on Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Trading Down 3.9 %

The business’s 50-day simple moving average is GBX 307.19 and its two-hundred day simple moving average is GBX 313.28. The company has a market capitalization of £412.81 million, a PE ratio of 4.13, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last issued its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Activity

In related news, insider Michael N. Biggs bought 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of GBX 288 ($3.73) per share, for a total transaction of £14,400 ($18,672.20). Company 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.