Close Brothers Group (LON:CBG) Shares Up 21.6% – Here’s What Happened

Posted by Alanna Baker on Jan 23rd, 2025

Close Brothers Group plc (LON:CBG – Get Free Report) shot up 21.6% during mid-day trading on Tuesday . The stock traded as high as GBX 301.19 ($3.71) and last traded at GBX 297.60 ($3.66). 38,613,809 shares were traded during trading, an increase of 530% from the average session volume of 6,131,296 shares. The stock had previously closed at GBX 244.80 ($3.01).

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 610 ($7.51) price target on shares of Close Brothers Group in a report on Friday, November 22nd. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 556.60 ($6.85).

Read Our Latest Analysis on Close Brothers Group

Close Brothers Group Stock Performance

The firm has a market capitalization of £466.22 million, a P/E ratio of 516.33, a PEG ratio of 1.87 and a beta of 0.82. The company has a 50-day simple moving average of GBX 225.09 and a two-hundred day simple moving average of GBX 363.51.

Insider Activity

In related news, insider Mike Morgan sold 10,885 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of GBX 241 ($2.97), for a total transaction of £26,232.85 ($32,294.53). Company insiders own 2.91% of the company’s stock.

About Close Brothers Group

(Get Free Report)

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.