Close Brothers Group (LON:CBG) Trading Up 19.5% – What’s Next?

Shares of Close Brothers Group plc (LON:CBG) rose 19.5% during trading on Tuesday . The stock traded as high as GBX 301.19 ($3.71) and last traded at GBX 292.50 ($3.61). Approximately 38,336,063 shares traded hands during mid-day trading, an increase of 527% from the average daily volume of 6,111,457 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 610 ($7.52) price target on shares of Close Brothers Group in a research 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Close Brothers Group currently has a consensus rating of “Buy” and a consensus price target of GBX 556.60 ($6.86).

Close Brothers Group Stock Up 19.5 %

The firm has a market cap of £440.18 million, a price-to-earnings ratio of 487.50, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50 day moving average of GBX 223.28 and a 200 day moving average of GBX 364.62.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,346.30). 2.91% of the stock is currently owned by insiders.

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.