Close Brothers Group (LON:CBG) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 330.95 ($4.16) and traded as high as GBX 336.60 ($4.23). Close Brothers Group shares last traded at GBX 331 ($4.16), with a volume of 12,552,805 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Close Brothers Group from GBX 610 ($7.67) to GBX 600 ($7.55) 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 note on Tuesday, January 7th.

Close Brothers Group Stock Performance

The company has a 50 day simple moving average of GBX 282.46 and a two-hundred day simple moving average of GBX 330.95. The firm has a market cap of £498.69 million, a PE ratio of 4.99, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($3.03), for a total transaction of £26,232.85 ($32,989.00). Company insiders own 2.91% of the company’s stock.

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.