Close Brothers Group (LON:CBG) Hits New 52-Week Low – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price reached a new 52-week low on Monday . The stock traded as low as GBX 202.80 ($2.61) and last traded at GBX 207.20 ($2.67), with a volume of 1379776 shares changing hands. The stock had previously closed at GBX 205.46 ($2.64).

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Friday, October 25th. Royal Bank of Canada upgraded Close Brothers Group to an “outperform” rating and raised their target price for the company from GBX 375 ($4.83) to GBX 620 ($7.98) in a report on Thursday, August 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Close Brothers Group currently has an average rating of “Buy” and an average target price of GBX 556.60 ($7.16).

Close Brothers Group Stock Performance

The stock has a market capitalization of £278.41 million, a PE ratio of 308.33, a PEG ratio of 1.87 and a beta of 0.82. The stock has a 50-day moving average price of GBX 373.76 and a two-hundred day moving average price of GBX 443.21.

Insider Buying and Selling

In other news, insider Michael N. Biggs acquired 3,500 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of GBX 416 ($5.35) per share, with a total value of £14,560 ($18,736.33). Insiders purchased 3,567 shares of company stock worth $1,485,824 in the last three months. 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.