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

Close Brothers Group plc (LON:CBG)’s stock price traded down 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). 125,087,578 shares traded hands during 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 ($4.49).

Analysts Set New Price Targets

CBG has been the topic of a number of research analyst reports. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price objective on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a report on Thursday, February 13th.

Close Brothers Group Stock Down 3.9 %

The business’s fifty day moving average is GBX 307.19 and its two-hundred day moving average is GBX 313.28. The stock has a market cap of £412.81 million, a price-to-earnings ratio of 4.13, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last posted 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 net margin of 7.79% and a return on equity of 5.78%. As a group, sell-side analysts expect that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Michael N. Biggs acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of GBX 288 ($3.75) per share, for a total transaction of £14,400 ($18,732.93). 2.91% of the stock is owned by company 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.