Close Brothers Group (LON:CBG) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Close Brothers Group plc (LON:CBG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 286.70 ($3.75) and traded as high as GBX 289.80 ($3.79). Close Brothers Group shares last traded at GBX 276.51 ($3.62), with a volume of 584,640 shares changing hands.

Wall Street Analysts Forecast Growth

CBG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Close Brothers Group from GBX 610 ($7.98) to GBX 600 ($7.85) 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, March 18th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a GBX 430 ($5.63) target price on shares of Close Brothers Group in a research report on Thursday, March 27th.

Close Brothers Group Trading Up 0.8 %

The business’s 50-day simple moving average is GBX 311.43 and its two-hundred day simple moving average is GBX 285.71. The company has a market capitalization of £415.53 million, a PE ratio of 4.16, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last issued 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 return on equity of 5.78% and a net margin of 7.79%. On average, analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Buying and Selling at Close Brothers Group

In other news, insider Michael N. Biggs acquired 5,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of GBX 288 ($3.77) per share, for a total transaction of £14,400 ($18,848.17). 2.91% of the stock is currently owned by insiders.

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.