Close Brothers Group (LON:CBG) Shares Cross 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 336.33 ($4.25) and traded as high as GBX 336.60 ($4.25). Close Brothers Group shares last traded at GBX 315 ($3.98), with a volume of 1,203,246 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CBG. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Close Brothers Group from GBX 610 ($7.71) to GBX 600 ($7.58) and set a “hold” rating on the stock in a research report on Thursday, February 13th. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th.

Close Brothers Group Stock Performance

The company has a market cap of £482.12 million, a price-to-earnings ratio of 4.82, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The stock’s fifty day moving average is GBX 273.26 and its two-hundred day moving average is GBX 336.22.

Insider Buying and Selling

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($3.04), for a total value of £26,232.85 ($33,143.21). 2.91% of the stock is currently owned by company 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.