Close Brothers Group (LON:CBG) Trading 19.5% Higher – Should You Buy?

Close Brothers Group plc (LON:CBG) shot up 19.5% on Tuesday . The company traded as high as GBX 301.19 ($3.71) and last traded at GBX 292.50 ($3.61). 38,336,063 shares changed hands during trading, an increase of 527% from the average session volume of 6,111,457 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CBG shares. Deutsche Bank Aktiengesellschaft reiterated 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. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Up 19.5 %

The company has a market cap of £440.18 million, a P/E ratio of 487.50, a PEG ratio of 1.87 and a beta of 0.82. The firm’s 50 day moving average is GBX 223.28 and its two-hundred day moving average is GBX 364.62.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred 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). Corporate 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.