Close Brothers Group (LON:CBG) Trading Down 21.6% – Time to Sell?

Close Brothers Group plc (LON:CBG)’s share price dropped 21.6% during trading on Tuesday . The company traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares changed hands 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

Several equities analysts have recently weighed in on CBG shares. Deutsche Bank Aktiengesellschaft cut their target price on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a research report on Thursday, February 13th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Stock Down 3.9 %

The company’s 50 day simple moving average is GBX 307.19 and its 200-day simple moving average is GBX 313.28. The firm has a market cap of £412.81 million, a P/E ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82.

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

Insider Transactions at Close Brothers Group

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