Close Brothers Group (LON:CBG) Shares Up 21.6% – What’s Next?

Close Brothers Group plc (LON:CBG)’s share price shot up 21.6% on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). 4,494,428 shares traded hands during mid-day trading, an increase of 22% from the average session 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 topic of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Close Brothers Group currently has an average rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Trading Up 21.6 %

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

Insider Activity 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 value of £26,232.85 ($32,342.31). 2.91% of the stock is currently owned by corporate insiders.

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.