Close Brothers Group (LON:CBG) Stock Price Down 16.4% – Here’s What Happened

Close Brothers Group plc (LON:CBG)’s stock price traded down 16.4% during trading on Monday . The company traded as low as GBX 348.20 and last traded at GBX 348.20. 3,698,297 shares changed hands during mid-day trading, an increase of 261% from the average session volume of 1,024,009 shares. The stock had previously closed at GBX 416.50.

Analyst Upgrades and Downgrades

CBG has been the subject of a number of analyst reports. Peel Hunt reaffirmed an “add” rating and issued a GBX 300 price target on shares of Close Brothers Group in a report on Tuesday, November 25th. Royal Bank Of Canada raised Close Brothers Group to an “outperform” rating and raised their price objective for the company from GBX 475 to GBX 625 in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Close Brothers Group from GBX 550 to GBX 570 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Shore Capital Group restated a “hold” rating and issued a GBX 510 price target on shares of Close Brothers Group in a research report on Thursday, November 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Close Brothers Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 502.50.

Close Brothers Group Price Performance

The firm has a market cap of £539.75 million, a PE ratio of -5.36, a price-to-earnings-growth ratio of 1.87 and a beta of 1.18. The company has a 50-day simple moving average of GBX 493.40 and a 200-day simple moving average of GBX 473.85.

Close Brothers Group (LON:CBG) last issued its quarterly earnings results on Thursday, December 11th. The company reported GBX 59.30 earnings per share (EPS) for the quarter. Close Brothers Group had a negative return on equity of 5.83% and a negative net margin of 8.70%. As a group, equities research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Buying and Selling at Close Brothers Group

In related news, insider Mike Morgan bought 2,841 shares of the stock in a transaction dated Monday, January 12th. The stock was purchased at an average cost of GBX 507 per share, with a total value of £14,403.87. Insiders acquired 2,902 shares of company stock worth $1,469,952 in the last ninety days. 2.19% of the stock is currently owned by company 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.