Close Brothers Group (LON:CBG) Trading Up 22.7% – Time to Buy?

Close Brothers Group plc (LON:CBG) traded up 22.7% on Tuesday . The stock traded as high as GBX 303.96 ($3.74) and last traded at GBX 300.32 ($3.70). 39,004,117 shares were traded during mid-day trading, an increase of 533% from the average session volume of 6,159,175 shares. The stock had previously closed at GBX 244.80 ($3.01).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CBG. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued 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, Close Brothers Group presently 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 business has a fifty day moving average of GBX 225.09 and a 200 day moving average of GBX 363.51. The firm has a market cap of £466.22 million, a P/E ratio of 516.33, a PEG ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

In other news, insider Mike Morgan sold 10,885 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,294.53). 2.91% of the stock is currently owned by corporate 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.