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

Close Brothers Group plc (LON:CBG)’s stock price fell 16.4% on Monday . The stock traded as low as GBX 348.20 and last traded at GBX 348.20. 3,698,297 shares were traded during 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 Ratings Changes

Several analysts have recently commented on CBG shares. Shore Capital Group restated a “hold” rating and set a GBX 510 price objective on shares of Close Brothers Group in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft raised their price target on Close Brothers Group from GBX 550 to GBX 570 and gave the company a “buy” rating in a report on Friday, January 23rd. Peel Hunt reiterated an “add” rating and set a GBX 300 target price on shares of Close Brothers Group in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada raised Close Brothers Group to an “outperform” rating and boosted their price target for the stock from GBX 475 to GBX 625 in a report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 502.50.

Close Brothers Group Stock Performance

The firm has a market cap of £539.75 million, a P/E ratio of -5.36, a P/E/G ratio of 1.87 and a beta of 1.18. The firm’s fifty day simple moving average is GBX 493.40 and its 200 day simple moving average is GBX 473.85.

Close Brothers Group (LON:CBG) last issued its 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%. On average, equities research analysts predict that Close Brothers Group plc will post 66.0070671 earnings per share for the current year.

Insider Activity

In other news, insider Mike Morgan acquired 2,841 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were acquired at an average cost of GBX 507 per share, with a total value of £14,403.87. Over the last 90 days, insiders purchased 2,902 shares of company stock worth $1,469,952. 2.19% of the stock is owned by corporate 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.