Close Brothers Group (LON:CBG) Trading 20.5% Higher – Still a Buy?

Close Brothers Group plc (LON:CBG) traded up 20.5% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.74) and last traded at GBX 295 ($3.63). 39,765,895 shares were traded during mid-day trading, an increase of 540% from the average session volume of 6,213,588 shares. The stock had previously closed at GBX 244.80 ($3.01).

Wall Street Analyst Weigh In

CBG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 610 ($7.51) price target 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 research note on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of GBX 556.60 ($6.85).

Close Brothers Group Stock Down 0.7 %

The firm has a market capitalization of £459.90 million, a PE ratio of 509.33, a P/E/G ratio of 1.87 and a beta of 0.82. The business’s fifty day moving average price is GBX 225.09 and its 200 day moving average price is GBX 363.51.

Insider Buying and Selling

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). 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.