Close Brothers Group (LON:CBG) Stock Price Down 3.9% – Should You Sell?

Close Brothers Group plc (LON:CBG) was down 3.9% on Friday . The company traded as low as GBX 353.20 ($4.59) and last traded at GBX 353.20 ($4.59). Approximately 595,422 shares were traded during trading, a decline of 33% from the average daily volume of 890,759 shares. The stock had previously closed at GBX 367.40 ($4.77).

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CBG shares. Deutsche Bank Aktiengesellschaft started coverage on Close Brothers Group in a research note on Friday, July 5th. They set a “buy” rating and a GBX 610 ($7.92) target price on the stock. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and increased their target price for the stock from GBX 375 ($4.87) to GBX 620 ($8.05) in a research note on Thursday, August 29th. Finally, Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Friday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of GBX 556.60 ($7.23).

Close Brothers Group Price Performance

The firm has a market cap of £416.26 million, a price-to-earnings ratio of 461.00, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average of GBX 449.49 and a 200-day moving average of GBX 464.89.

Insider Buying and Selling

In related news, insider Michael N. Biggs purchased 3,500 shares of Close Brothers Group stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of GBX 416 ($5.40) per share, with a total value of £14,560 ($18,904.18). Insiders have purchased 3,600 shares of company stock valued at $1,501,136 over the last 90 days. 2.91% of the stock is owned by corporate insiders.

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.