Close Brothers Group (LON:CBG) Shares Down 21.9% - Here's Why

Close Brothers Group plc (LON:CBG - Get Free Report) shares traded down 21.9% during mid-day trading on Tuesday . The stock traded as low as GBX 268.20 ($3.46) and last traded at GBX 269.80 ($3.48). 6,129,683 shares were traded during mid-day trading, an increase of 150% from the average session volume of 2,450,847 shares. The stock had previously closed at GBX 345.40 ($4.46).

Analysts Set New Price Targets

Several research firms have recently issued reports on CBG. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Close Brothers Group from GBX 610 ($7.88) to GBX 600 ($7.75) and set a "hold" rating for the company in a research report on Thursday, February 13th. Shore Capital reaffirmed a "buy" rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Stock Performance

The stock's fifty day moving average price is GBX 309.75 and its 200-day moving average price is GBX 312.81. The firm has a market cap of £427.45 million, a PE ratio of 4.27, a P/E/G ratio of 1.87 and a beta of 0.82.

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

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Insiders Place Their Bets

In other Close Brothers Group news, insider Michael N. Biggs acquired 5,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of GBX 288 ($3.72) per share, with a total value of £14,400 ($18,592.64). 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.