Close Brothers Group (LON:CBG) Trading Down 21.6% – Here’s Why

Shares of Close Brothers Group plc (LON:CBG) were down 21.6% during trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares were traded 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 ($4.49).

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CBG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a research note on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Trading Down 3.9 %

The company 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 firm’s 50 day simple moving average is GBX 307.19 and its 200-day simple moving average is GBX 313.28.

Close Brothers Group (LON:CBG) last posted its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. As a group, sell-side analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Transactions at Close Brothers Group

In related news, insider Michael N. Biggs purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average price of GBX 288 ($3.75) per share, for a total transaction of £14,400 ($18,732.93). Company 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.