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

Close Brothers Group plc (LON:CBG)’s share price rose 21.6% on Tuesday . The stock traded as high as GBX 301.19 ($3.71) and last traded at GBX 297.60 ($3.66). Approximately 38,613,809 shares changed hands during mid-day trading, an increase of 530% from the average daily volume of 6,131,296 shares. The stock had previously closed at GBX 244.80 ($3.01).

Analysts Set New Price Targets

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

Close Brothers Group Stock Up 0.6 %

The firm has a market cap of £466.22 million, a price-to-earnings ratio of 516.33, a PEG ratio of 1.87 and a beta of 0.82. The company’s fifty day moving average is GBX 225.09 and its 200 day moving average is GBX 363.51.

Insider Transactions at Close Brothers Group

In related news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction dated Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,294.53). 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.