Close Brothers Group (LON:CBG) Stock Price Up 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price was 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). 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

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

Close Brothers Group Trading Down 2.9 %

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

Insider Activity

In related news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred 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.