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Close Brothers Group (LON:CBG) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Close Brothers Group logo with Financial Services background

Close Brothers Group plc (LON:CBG - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 406.86 ($5.14) and traded as low as GBX 238.80 ($3.01). Close Brothers Group shares last traded at GBX 240.40 ($3.03), with a volume of 1,487,113 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada upgraded shares of Close Brothers Group to an "outperform" rating and increased their price objective for the company from GBX 375 ($4.73) to GBX 620 ($7.83) in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 610 ($7.70) price target on shares of Close Brothers Group in a research note on Friday, November 22nd. Finally, Shore Capital restated a "buy" rating on shares of Close Brothers Group in a research report on Thursday, November 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of GBX 556.60 ($7.03).

Check Out Our Latest Stock Report on Close Brothers Group

Close Brothers Group Trading Down 2.7 %

The business's 50-day simple moving average is GBX 268.40 and its 200-day simple moving average is GBX 405.66. The company has a market capitalization of £352.15 million, a PE ratio of 390.00, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.

Insiders Place Their Bets

In other Close Brothers Group news, insider Michael N. Biggs purchased 3,500 shares of Close Brothers Group stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of GBX 416 ($5.25) per share, with a total value of £14,560 ($18,376.88). Insiders own 2.91% of the company's stock.

Close Brothers Group Company Profile

(Get Free Report)

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.

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