Close Brothers Group (LON:CBG) Trading Down 21.6% - Should You Sell?

Shares of Close Brothers Group plc (LON:CBG - Get Free Report) dropped 21.6% on Tuesday . The stock traded as low as GBX 269 ($3.47) and last traded at GBX 270.72 ($3.50). Approximately 5,216,042 shares changed hands during mid-day trading, an increase of 114% from the average daily volume of 2,436,364 shares. The stock had previously closed at GBX 345.40 ($4.46).

Wall Street Analyst Weigh In

A number of research analysts have commented on CBG shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 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 reiterated a "buy" rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Trading Up 3.5 %

The stock has a market capitalization of £427.45 million, a P/E ratio of 4.27, a P/E/G ratio of 1.87 and a beta of 0.82. The stock's 50 day simple moving average is GBX 309.75 and its 200 day simple moving average is GBX 312.81.

Close Brothers Group (LON:CBG - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

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Insiders Place Their Bets

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 shares were bought 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 corporate 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.