Close Brothers Group (LON:CBG) Trading Up 21.6% – Here’s What Happened

Close Brothers Group plc (LON:CBG) was up 21.6% on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). Approximately 4,494,428 shares were traded during 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 Analysts Forecast Growth

CBG has been the subject of a number of analyst reports. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) target price on shares of Close Brothers Group in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Up 21.6 %

The company has a market cap of £447.86 million, a P/E ratio of 496.00, a P/E/G ratio of 1.87 and a beta of 0.82. The business’s 50 day moving average is GBX 223.28 and its 200 day moving average is GBX 364.62.

Insider Buying and Selling

In other 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.