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

Close Brothers Group plc (LON:CBG)’s share price dropped 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).

Wall Street Analysts Forecast Growth

CBG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Close Brothers Group from GBX 610 ($7.94) to GBX 600 ($7.81) and set a “hold” rating for the company in a 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 Price Performance

The firm has a market capitalization of £412.81 million, a P/E ratio of 4.13, a P/E/G ratio of 1.87 and a beta of 0.82. The stock’s fifty day simple moving average is GBX 307.19 and its 200 day simple moving average is GBX 313.28.

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

Insider Buying and Selling

In related news, insider Michael N. Biggs acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average cost of GBX 288 ($3.75) per share, with a total value of £14,400 ($18,732.93). 2.91% of the stock is owned by company insiders.

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.