Close Brothers Group (LON:CBG) Shares Down 21.6% – What’s Next?

Close Brothers Group plc (LON:CBG)’s share price was down 21.6% during trading on Wednesday . The stock traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 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 ($4.48).

Analyst Ratings Changes

Several analysts have recently weighed in on CBG shares. Deutsche Bank Aktiengesellschaft decreased their target price on Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating for the company in a research report on Thursday, February 13th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Trading Down 0.1 %

The stock has a 50-day simple moving average of GBX 308.27 and a two-hundred day simple moving average of GBX 313.01. The firm has a market capitalization of £412.33 million, a P/E ratio of 4.12, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

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

Insider Activity

In related news, insider Michael N. Biggs acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). 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.