Close Brothers Group (LON:CBG) Shares Up 21.5% – Should You Buy?

Close Brothers Group plc (LON:CBG) rose 21.5% on Tuesday . The company traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.40 ($3.67). Approximately 40,511,785 shares were traded during mid-day trading, an increase of 546% from the average daily volume of 6,266,866 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 610 ($7.53) price objective on shares of Close Brothers Group in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 556.60 ($6.88).

Close Brothers Group Trading Down 2.9 %

The stock’s 50 day simple moving average is GBX 227.33 and its 200 day simple moving average is GBX 362.32. The stock has a market capitalization of £449.66 million, a P/E ratio of 498.00, 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 the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.98), for a total transaction of £26,232.85 ($32,402.24). Corporate 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.