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

Close Brothers Group plc (LON:CBG) shares fell 21.6% during mid-day trading on Wednesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). 125,087,578 shares changed hands 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).

Analyst Upgrades and Downgrades

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

Close Brothers Group Trading Down 0.1 %

The firm has a market cap of £412.33 million, a P/E ratio of 4.12, a P/E/G ratio of 1.87 and a beta of 0.82. The stock has a 50 day simple moving average of GBX 308.27 and a 200-day simple moving average of GBX 313.01.

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

Insider Transactions at Close Brothers Group

In related news, insider Michael N. Biggs acquired 5,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was acquired at an average cost of GBX 288 ($3.73) per share, with a total value of £14,400 ($18,672.20). Insiders own 2.91% of the company’s stock.

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.