Close Brothers Group (LON:CBG) Hits New 12-Month Low – Time to Sell?

Close Brothers Group plc (LON:CBG) reached a new 52-week low on Monday . The stock traded as low as GBX 243.20 ($3.16) and last traded at GBX 255 ($3.31), with a volume of 65227688 shares. The stock had previously closed at GBX 276.60 ($3.59).

Wall Street Analyst Weigh In

CBG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Close Brothers Group in a report on Friday, July 5th. They issued a “buy” rating and a GBX 610 ($7.92) target price on the stock. Shore Capital reissued a “buy” rating on shares of Close Brothers Group in a report on Friday. Finally, Royal Bank of Canada raised shares of Close Brothers Group to an “outperform” rating and upped their price objective for the company from GBX 375 ($4.87) to GBX 620 ($8.05) in a research report on Thursday, August 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of GBX 556.60 ($7.23).

Close Brothers Group Price Performance

The firm has a market cap of £383.75 million, a P/E ratio of 425.00, a PEG ratio of 1.87 and a beta of 0.82. The stock’s 50 day moving average is GBX 449.49 and its two-hundred day moving average is GBX 464.85.

Insider Buying and Selling at Close Brothers Group

In other news, insider Michael N. Biggs bought 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of GBX 416 ($5.40) per share, for a total transaction of £14,560 ($18,904.18). Insiders have purchased 3,600 shares of company stock worth $1,501,136 over the last three months. 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.