Close Brothers Group (LON:CBG) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 330.95 ($4.16) and traded as high as GBX 336.60 ($4.23). Close Brothers Group shares last traded at GBX 331 ($4.16), with a volume of 12,552,805 shares traded.

Analyst Ratings Changes

Several brokerages recently weighed in on CBG. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on Close Brothers Group from GBX 610 ($7.67) to GBX 600 ($7.55) and set a “hold” rating for the company in a research report on Thursday, February 13th.

Close Brothers Group Stock Up 2.1 %

The firm has a 50-day moving average price of GBX 282.46 and a 200 day moving average price of GBX 330.95. The firm has a market capitalization of £498.69 million, a PE ratio of 4.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction on Friday, December 13th. The stock was sold at an average price of GBX 241 ($3.03), for a total value of £26,232.85 ($32,989.00). Company insiders own 2.91% of the company’s stock.

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.