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

Close Brothers Group plc (LON:CBG) dropped 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). Approximately 125,087,578 shares changed hands during mid-day trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.48).

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating on the stock in a research report on Thursday, February 13th.

Close Brothers Group Trading Down 3.9 %

The firm has a market capitalization of £412.81 million, a price-to-earnings ratio of 4.13, a PEG ratio of 1.87 and a beta of 0.82. The business has a 50-day moving average price of GBX 307.19 and a two-hundred day moving average price of GBX 313.28.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. On average, equities research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Close Brothers Group news, insider Michael N. Biggs acquired 5,000 shares of Close Brothers Group stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of GBX 288 ($3.73) per share, for a total transaction of £14,400 ($18,672.20). Corporate 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.