Close Brothers Group (LON:CBG) Trading Up 21.6% – Should You Buy?

Close Brothers Group plc (LON:CBG)’s share price traded up 21.6% on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). Approximately 4,494,428 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Upgrades and Downgrades

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

Close Brothers Group Trading Up 21.6 %

The company has a market cap of £447.86 million, a P/E ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The business’s 50 day simple moving average is GBX 223.28 and its 200 day simple moving average is GBX 364.62.

Insider Activity at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the company’s stock in a transaction dated 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). 2.91% of the stock is owned by corporate 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.