Close Brothers Group (LON:CBG) Stock Price Up 22.7% - Here's Why

Close Brothers Group plc (LON:CBG - Get Free Report)'s share price was up 22.7% during trading on Tuesday . The stock traded as high as GBX 303.96 ($3.75) and last traded at GBX 300.32 ($3.70). Approximately 39,004,117 shares were traded during trading, an increase of 533% from the average daily volume of 6,159,175 shares. The stock had previously closed at GBX 244.80 ($3.02).

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CBG shares. Shore Capital reiterated a "buy" rating on shares of Close Brothers Group in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a GBX 610 ($7.52) price objective on shares of Close Brothers Group in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of GBX 556.60 ($6.86).

Close Brothers Group Trading Up 21.6 %

The stock's 50 day moving average price is GBX 223.28 and its two-hundred day moving average price is GBX 364.62. The firm 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 Transactions at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 10,885 shares of Close Brothers Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of GBX 241 ($2.97), for a total value of £26,232.85 ($32,342.31). Insiders own 2.91% of the company's stock.

About Close Brothers Group

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.