Close Brothers Group (LON:CBG) Trading Up 21.6% - What's Next?

Close Brothers Group plc (LON:CBG - Get Free Report)'s stock price shot up 21.6% during trading on Tuesday . The company traded as high as GBX 301.19 ($3.71) and last traded at GBX 297.60 ($3.67). 38,613,809 shares were traded during mid-day trading, an increase of 530% from the average session volume of 6,131,296 shares. The stock had previously closed at GBX 244.80 ($3.02).

Analysts Set New Price Targets

CBG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 610 ($7.52) price target on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital reaffirmed a "buy" rating on shares of Close Brothers Group in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 556.60 ($6.86).

Close Brothers Group Stock Performance

The business 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 capitalization of £447.86 million, a PE ratio of 496.00, a PEG ratio of 1.87 and a beta of 0.82.

Insider Buying and Selling at Close Brothers Group

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