Close Brothers Group (LON:CBG) Shares Up 18.9% – Still a Buy?

Close Brothers Group plc (LON:CBG)’s share price shot up 18.9% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 291.05 ($3.59). 39,303,023 shares traded hands during mid-day trading, an increase of 536% from the average session volume of 6,178,042 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analysts Set New Price Targets

A number of analysts have recently weighed in on CBG shares. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a research report on Friday, November 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Close Brothers Group currently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Up 18.9 %

The stock has a market cap of £438.00 million, a PE ratio of 485.09, a PEG ratio of 1.87 and a beta of 0.82. The stock’s fifty day moving average price is GBX 223.28 and its 200 day moving average price is GBX 364.62.

Insiders Place Their Bets

In other news, insider Mike Morgan sold 10,885 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,346.30). 2.91% of the stock is owned by insiders.

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.