Close Brothers Group plc (LON:CBG - Get Free Report) dropped 22.2% on Tuesday . The company traded as low as GBX 265.20 ($3.42) and last traded at GBX 268.80 ($3.47). Approximately 6,452,280 shares changed hands during mid-day trading, an increase of 162% from the average daily volume of 2,459,257 shares. The stock had previously closed at GBX 345.40 ($4.46).
Analysts Set New Price Targets
CBG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Close Brothers Group from GBX 610 ($7.88) to GBX 600 ($7.75) and set a "hold" rating for the company in a report on Thursday, February 13th. Shore Capital restated a "buy" rating on shares of Close Brothers Group in a report on Tuesday.
Check Out Our Latest Stock Report on CBG
Close Brothers Group Trading Up 3.5 %
The stock has a 50-day simple moving average of GBX 309.75 and a 200-day simple moving average of GBX 311.20. The company has a market capitalization of £427.45 million, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82.
Close Brothers Group (LON:CBG - Get Free Report) last announced 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 return on equity of 5.78% and a net margin of 7.79%. On average, research analysts forecast that Close Brothers Group plc will post 66.0070671 EPS for the current year.
Insider Buying and Selling at Close Brothers Group
In other news, insider Michael N. Biggs purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 currently owned by corporate insiders.
About Close Brothers Group
(
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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