Close Brothers Group (LON:CBG) Shares Down 21.6% - Here's What Happened

Close Brothers Group plc (LON:CBG - Get Free Report) shares were down 21.6% during mid-day trading on Tuesday . The stock traded as low as GBX 258.20 ($3.33) and last traded at GBX 270.80 ($3.50). Approximately 125,087,578 shares were traded during trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.46).

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CBG. Deutsche Bank Aktiengesellschaft dropped their price target on Close Brothers Group from GBX 610 ($7.88) to GBX 600 ($7.75) and set a "hold" rating on the stock in a research note on Thursday, February 13th. Shore Capital restated a "buy" rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Trading Up 3.5 %

The company has a market cap of £427.45 million, a PE ratio of 4.27, a PEG ratio of 1.87 and a beta of 0.82. The business's 50 day moving average is GBX 309.75 and its two-hundred day moving average is GBX 312.81.

Close Brothers Group (LON:CBG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) EPS for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. As a group, equities research analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

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Insider Activity

In other Close Brothers Group news, insider Michael N. Biggs bought 5,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of GBX 288 ($3.72) per share, for a total transaction of £14,400 ($18,592.64). Corporate insiders own 2.91% of the company's stock.

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.