Close Brothers Group (LON:CBG) Stock Price Up 21.1% - Should You Buy?

Close Brothers Group plc (LON:CBG) experienced a notable increase of 21.1% during trading on Tuesday. At its peak, the stock reached GBX 303.96 ($3.75) before settling at GBX 296.40 ($3.65). During this trading session, around 39,514,301 shares changed hands, representing a significant increase of 538% when compared to the average daily volume of 6,195,617 shares. The stock had closed at GBX 244.80 ($3.02) prior to this surge.

Analyst Ratings Changes

Equity research analysts have recently provided insights into the stock's performance. Shore Capital reaffirmed a "buy" rating on Close Brothers Group shares in a report dated January 7. Similarly, Deutsche Bank reiterated a "buy" rating while setting a price target of GBX 610 ($7.52) for the stock in a report released on November 22. Based on data from MarketBeat.com, five analysts currently recommend buying the stock, giving it a consensus rating of "Buy" along with an average target price of GBX 556.60 ($6.86).

Close Brothers Group Trading Up 21.1%

The company holds a market capitalization of £446.05 million, with a price-to-earnings (P/E) ratio of 494.00, a price/earnings to growth (PEG) ratio of 1.87, and a beta of 0.82. It also has a 50-day moving average price of GBX 223.28 and a 200-day moving average price of GBX 364.62.

Insiders Place Their Bets

In other developments, insider Mike Morgan sold 10,885 shares of Close Brothers Group on December 13, at an average price of GBX 241 ($2.97), totaling approximately £26,232.85 ($32,346.30). Insiders currently own about 2.91% of the company’s shares.

Close Brothers Group Company Profile

Close Brothers Group plc is a merchant banking company that provides financial services to small businesses and individuals in the UK. The company operates across five segments: Commercial, Retail, Property, Asset Management, and Securities. Its banking services include debt factoring, invoice discounting, asset-based lending, and financing options for small and medium enterprises (SMEs), residential housing, transport, industrial equipment, renewable energy, and motorcycle financing, among others. It also provides insurance and various loan-related services.

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This news was generated using advanced technology and financial data to provide readers with timely reporting. The content has been reviewed for accuracy prior to publication.

Should You Invest $1,000 in Close Brothers Group Right Now?

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