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

Close Brothers Group plc (LON:CBG)’s share price rose 21.6% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.68). Approximately 4,494,428 shares changed hands 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

A number of research firms recently commented on CBG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 610 ($7.53) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 556.60 ($6.88).

Close Brothers Group Trading Down 2.9 %

The company has a 50 day moving average of GBX 227.33 and a 200 day moving average of GBX 362.32. The firm has a market cap of £449.66 million, a price-to-earnings ratio of 498.00, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.98), for a total value of £26,232.85 ($32,402.24). 2.91% of the stock is currently owned by 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.