Close Brothers Group (LON:CBG) Trading 21.1% Higher – Still a Buy?

Posted by Tech Dows on Jan 23rd, 2025

Close Brothers Group plc (LON:CBG – Get Free Report)’s share price rose 21.1% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.74) and last traded at GBX 296.40 ($3.65). Approximately 39,514,301 shares were traded during mid-day trading, an increase of 538% from the average daily volume of 6,195,617 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 610 ($7.51) price objective on shares of Close Brothers Group in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of GBX 556.60 ($6.85).

Check Out Our Latest Stock Report on CBG

Close Brothers Group Price Performance

The company has a market capitalization of £462.31 million, a P/E ratio of 512.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The firm has a fifty day moving average price of GBX 225.09 and a 200-day moving average price of GBX 363.51.

Insider Buying and Selling at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). Corporate insiders own 2.91% of the company’s stock.

About Close Brothers Group

(Get Free Report)

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.