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

Close Brothers Group plc (LON:CBG) shares traded down 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 125,087,578 shares changed hands 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).

Analyst Ratings Changes

A number of brokerages have recently issued reports on CBG. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating for the company in a research note on Thursday, February 13th.

Close Brothers Group Trading Down 3.9 %

The firm has a market capitalization of £412.81 million, a P/E ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82. The company has a 50 day simple moving average of GBX 307.19 and a two-hundred day simple moving average of GBX 313.28.

Close Brothers Group (LON:CBG) last announced 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%. On average, sell-side analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael N. Biggs purchased 5,000 shares of Close Brothers Group stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). 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.