Close Brothers Group (LON:CBG) Stock Price Up 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price rose 21.6% during mid-day trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). 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 Analyst Weigh In

CBG has been the subject of a number of research analyst reports. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The stock has a fifty day simple moving average of GBX 223.28 and a two-hundred day simple moving average of GBX 364.62. The stock has a market cap of £447.86 million, a PE ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82.

Insider Activity

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 stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,342.31). 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.