Close Brothers Group (LON:CBG) Shares Down 21.6% – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price was down 21.6% during trading on Tuesday . The company traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). Approximately 125,087,578 shares traded hands during mid-day trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Upgrades and Downgrades

CBG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a research note on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Price Performance

The firm has a market cap of £412.81 million, a PE ratio of 4.13, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The company has a 50-day simple moving average of GBX 307.19 and a 200-day simple moving average of GBX 313.28.

Close Brothers Group (LON:CBG) last posted its quarterly earnings data on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share (EPS) for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. As a group, equities research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Activity

In other news, insider Michael N. Biggs acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of GBX 288 ($3.75) per share, with a total value of £14,400 ($18,732.93). 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.