Close Brothers Group (LON:CBG) Shares Up 22.6% - Here's Why

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) were up 22.6% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 300.20 ($3.70). Approximately 39,995,934 shares traded hands during mid-day trading, an increase of 542% from the average daily volume of 6,230,019 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CBG. Shore Capital restated a "buy" rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a research note on Friday, November 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The firm has a 50 day moving average of GBX 223.28 and a two-hundred day moving average of GBX 364.62. The stock has a market cap of £447.86 million, a P/E ratio of 496.00, a P/E/G ratio of 1.87 and a beta of 0.82.

Insider Activity

In related news, insider Mike Morgan sold 10,885 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,342.31). 2.91% of the stock is owned by company 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.