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

Close Brothers Group plc (LON:CBG)’s share price fell 21.6% on Tuesday . The company traded as low as GBX 269 ($3.49) and last traded at GBX 270.72 ($3.52). 5,216,042 shares were traded during trading, an increase of 114% from the average session volume of 2,436,364 shares. The stock had previously closed at GBX 345.40 ($4.49).

Analyst Ratings Changes

A number of brokerages have recently weighed in on CBG. Shore Capital reaffirmed a “buy” rating on shares of Close Brothers Group in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Close Brothers Group from GBX 610 ($7.92) to GBX 600 ($7.79) and set a “hold” rating for the company in a report on Thursday, February 13th.

Close Brothers Group Trading Down 16.8 %

The stock’s 50-day moving average is GBX 304.94 and its 200-day moving average is GBX 316.91. The firm has a market capitalization of £433.00 million, a price-to-earnings ratio of 4.33, a PEG ratio of 1.87 and a beta of 0.82.

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.