Close Brothers Group (LON:CBG) Shares Up 21.6% – Should You Buy?

Shares of Close Brothers Group plc (LON:CBG) rose 21.6% during mid-day trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 297.60 ($3.67). Approximately 4,494,428 shares changed hands during trading, an increase of 22% from the average daily volume of 3,694,198 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Ratings Changes

Several research firms have commented on CBG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 610 ($7.52) target price on shares of Close Brothers Group in a research note on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Close Brothers Group has a consensus rating of “Buy” and an average target price of GBX 556.60 ($6.86).

Close Brothers Group Price Performance

The firm has a market cap of £447.86 million, a P/E ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82. The firm’s 50-day moving average price is GBX 223.28 and its 200 day moving average price is GBX 364.62.

Insiders Place Their Bets

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,346.30). 2.91% of the stock is owned by corporate 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.