Close Brothers Group (LON:CBG) Trading 22% Higher – What’s Next?

Close Brothers Group plc (LON:CBG) shares shot up 22% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 298.70 ($3.68). 40,175,391 shares traded hands during trading, an increase of 544% from the average session volume of 6,242,837 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Ratings Changes

Several equities research analysts have issued reports on CBG shares. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) target price on shares of Close Brothers Group in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Close Brothers Group currently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The company has a market capitalization of £447.86 million, a P/E ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The stock’s fifty day moving average price is GBX 223.28 and its 200-day moving average price is GBX 364.62.

Insider Activity

In other 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 ($2.97), for a total transaction of £26,232.85 ($32,346.30). 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.