Close Brothers Group (LON:CBG) Stock Price Up 22.7% – What’s Next?

Shares of Close Brothers Group plc (LON:CBG) rose 22.7% during mid-day trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 300.32 ($3.70). Approximately 39,004,117 shares were traded during trading, an increase of 533% from the average daily volume of 6,159,175 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analysts Forecast Growth

Several research firms recently commented on CBG. Shore Capital reaffirmed 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 set a GBX 610 ($7.52) price target on shares of Close Brothers Group in a report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Close Brothers Group presently has an average rating of “Buy” and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The firm’s fifty day moving average is GBX 223.28 and its 200-day moving average is GBX 364.62. The company has a market capitalization of £451.62 million, a P/E ratio of 500.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Activity

In other news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 corporate 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.