Close Brothers Group (LON:CBG) Trading Down 21.6% – What’s Next?

Shares of Close Brothers Group plc (LON:CBG) were down 21.6% 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 traded hands 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 research firms have commented on CBG. Deutsche Bank Aktiengesellschaft cut their price target on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Stock Down 3.9 %

The company has a market capitalization of £412.81 million, a price-to-earnings ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82. The business has a fifty day simple moving average of GBX 307.19 and a two-hundred day simple moving average of 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 return on equity of 5.78% and a net margin of 7.79%. As a group, equities analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current fiscal year.

Insider Transactions at Close Brothers Group

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

Close Brothers Group Company Profile

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.