Close Brothers Group (LON:CBG) Trading Down 21.6% – What’s Next?

Close Brothers Group plc (LON:CBG) shares fell 21.6% during mid-day trading on Tuesday . The stock traded as low as GBX 258.20 ($3.36) and last traded at GBX 270.80 ($3.52). 125,087,578 shares were traded during trading, an increase of 2,586% from the average session volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Ratings Changes

Several equities analysts have weighed in on CBG shares. Deutsche Bank Aktiengesellschaft dropped their target price on Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a research report on Thursday, February 13th. Shore Capital restated a “buy” rating on shares of Close Brothers Group in a report on Tuesday.

Close Brothers Group Stock Performance

The company has a 50 day moving average of GBX 307.19 and a 200 day moving average of GBX 313.28. The stock has a market capitalization of £412.81 million, a price-to-earnings ratio of 4.13, a PEG ratio of 1.87 and a beta of 0.82.

Close Brothers Group (LON:CBG) last announced 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 return on equity of 5.78% and a net margin of 7.79%. As a group, research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current fiscal year.

Insider Buying and Selling at Close Brothers Group

In other Close Brothers Group news, insider Michael N. Biggs acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of GBX 288 ($3.75) per share, for a total transaction of £14,400 ($18,732.93). 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.