Close Brothers Group (LON:CBG) Trading Up 22.6% – Time to Buy?

Shares of Close Brothers Group plc (LON:CBG) were up 22.6% during trading on Tuesday . The company traded as high as GBX 303.96 ($3.74) and last traded at GBX 300.10 ($3.69). Approximately 39,026,629 shares traded hands during trading, an increase of 533% from the average daily volume of 6,160,783 shares. The stock had previously closed at GBX 244.80 ($3.01).

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CBG shares. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 610 ($7.51) target price on shares of Close Brothers Group in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 556.60 ($6.85).

Close Brothers Group Stock Up 0.6 %

The stock has a 50-day moving average of GBX 225.09 and a 200 day moving average of GBX 363.51. The stock has a market cap of £466.22 million, a PE ratio of 516.33, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Transactions at Close Brothers Group

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