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

Close Brothers Group plc (LON:CBG) shares rose 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 changed 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).

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 610 ($7.53) price objective on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Close Brothers Group has an average rating of “Buy” and an average price target of GBX 556.60 ($6.88).

Close Brothers Group Price Performance

The company has a market capitalization of £449.66 million, a PE ratio of 498.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The company’s 50 day simple moving average is GBX 227.33 and its 200 day simple moving average is GBX 362.32.

Insider Buying and Selling at Close Brothers Group

In related news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction 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). Company 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.