Close Brothers Group (LON:CBG) Shares Up 21.6% – Should You Buy?

Close Brothers Group plc (LON:CBG)’s stock price traded up 21.6% on Tuesday . The company traded as high as GBX 301.19 ($3.71) and last traded at GBX 297.60 ($3.67). 38,613,809 shares changed hands during mid-day trading, an increase of 530% from the average session volume of 6,131,296 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CBG shares. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 610 ($7.52) price target on shares of Close Brothers Group in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Close Brothers Group presently has a consensus rating of “Buy” and a consensus price target of GBX 556.60 ($6.86).

Close Brothers Group Price Performance

The company has a market capitalization of £447.86 million, a price-to-earnings ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The firm has a 50-day moving average price of GBX 223.28 and a two-hundred day moving average price of GBX 364.62.

Insiders Place Their Bets

In other news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,346.30). Insiders own 2.91% of the company’s stock.

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.