Close Brothers Group (LON:CBG) Trading Down 5.6%

Shares of Close Brothers Group plc (LON:CBG) traded down 5.6% during mid-day trading on Thursday . The stock traded as low as GBX 480 ($6.34) and last traded at GBX 498 ($6.58). 1,297,036 shares were traded during trading, an increase of 43% from the average session volume of 908,558 shares. The stock had previously closed at GBX 527.50 ($6.97).

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Close Brothers Group to an “outperform” rating and raised their price objective for the stock from GBX 375 ($4.95) to GBX 620 ($8.19) in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Close Brothers Group in a research report on Friday, July 5th. They set a “buy” rating and a GBX 610 ($8.06) price objective for the company. Finally, Shore Capital restated a “buy” rating on shares of Close Brothers Group in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 624 ($8.24).

Close Brothers Group Price Performance

The firm has a market capitalization of £648.61 million, a price-to-earnings ratio of 453.68, a P/E/G ratio of 1.87 and a beta of 0.82. The firm’s 50-day simple moving average is GBX 508.25 and its 200 day simple moving average is GBX 466.26.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Mike Morgan sold 7,920 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of GBX 506 ($6.68), for a total transaction of £40,075.20 ($52,939.50). Insiders bought a total of 90 shares of company stock worth $45,096 over the last three months. Corporate insiders own 2.93% 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.