Close Brothers Group (LON:CBG) Stock Price Down 21.6% – Here’s Why

Close Brothers Group plc (LON:CBG) fell 21.6% on Tuesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 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 ($4.48).

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CBG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Close Brothers Group from GBX 610 ($7.91) to GBX 600 ($7.78) and set a “hold” rating for the company in a report on Thursday, February 13th. Shore Capital reiterated a “buy” rating on shares of Close Brothers Group in a research report on Tuesday.

Close Brothers Group Stock Down 3.9 %

The firm has a market capitalization of £412.81 million, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 1.87 and a beta of 0.82. The business’s fifty day moving average is GBX 307.19 and its 200 day moving average is GBX 313.28.

Close Brothers Group (LON:CBG) last released its quarterly earnings results on Tuesday, March 18th. The company reported GBX 30.90 ($0.40) earnings per share (EPS) for the quarter. Close Brothers Group had a return on equity of 5.78% and a net margin of 7.79%. Equities research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insider Activity at Close Brothers Group

In other Close Brothers Group news, insider Michael N. Biggs purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was bought at an average cost of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). 2.91% of the stock is owned by 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.