Close Brothers Group (LON:CBG) Trading Up 21.6% – Time to Buy?

Close Brothers Group plc (LON:CBG) shares shot up 21.6% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.68). 4,494,428 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Ratings Changes

A number of analysts have recently commented on CBG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 610 ($7.53) target price on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Close Brothers Group presently has a consensus rating of “Buy” and a consensus price target of GBX 556.60 ($6.88).

Close Brothers Group Stock Performance

The stock has a 50-day moving average price of GBX 227.33 and a two-hundred day moving average price of GBX 362.32. The stock has a market capitalization of £449.66 million, a PE ratio of 498.00, a PEG ratio of 1.87 and a beta of 0.82.

Insiders Place Their Bets

In other news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.98), for a total transaction of £26,232.85 ($32,402.24). 2.91% of the stock is currently owned by corporate 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.