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

Close Brothers Group plc (LON:CBG)’s stock price dropped 21.6% during mid-day 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 were traded during 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

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating on the stock in a report on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Stock Performance

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

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

Insider Buying and Selling

In other Close Brothers Group news, insider Michael N. Biggs purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of GBX 288 ($3.75) per share, for a total transaction of £14,400 ($18,732.93). 2.91% of the stock is owned by insiders.

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.