Close Brothers Group (LON:CBG) Trading 21.6% Higher – Still a Buy?

Shares of Close Brothers Group plc (LON:CBG) shot up 21.6% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.68). 4,494,428 shares were traded during mid-day trading, an increase of 22% from the average session volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analysts Forecast Growth

CBG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 610 ($7.53) price target on shares of Close Brothers Group in a research report on Friday, November 22nd. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 556.60 ($6.88).

Close Brothers Group Stock Down 2.9 %

The company has a market capitalization of £449.66 million, a price-to-earnings ratio of 498.00, a P/E/G ratio of 1.87 and a beta of 0.82. The firm has a 50 day moving average price of GBX 227.33 and a two-hundred day moving average price of GBX 362.32.

Insider Buying and Selling at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.98), for a total value of £26,232.85 ($32,402.24). 2.91% of the stock is owned by 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.