Close Brothers Group (LON:CBG) Stock Price Down 21.6% – Should You Sell?

Close Brothers Group plc (LON:CBG) shares were down 21.6% during trading on Wednesday . The company traded as low as GBX 258.20 ($3.35) and last traded at GBX 270.80 ($3.51). Approximately 125,087,578 shares were traded during trading, an increase of 2,586% from the average daily volume of 4,656,207 shares. The stock had previously closed at GBX 345.40 ($4.48).

Wall Street Analysts Forecast Growth

CBG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on 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 reaffirmed a “buy” rating on shares of Close Brothers Group in a research note on Tuesday.

Close Brothers Group Trading Up 1.2 %

The stock has a market capitalization of £417.94 million, a P/E ratio of 4.18, a P/E/G ratio of 1.87 and a beta of 0.82. The firm’s fifty day moving average is GBX 308.27 and its 200-day moving average is GBX 313.01.

Close Brothers Group (LON:CBG) last posted its 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 net margin of 7.79% and a return on equity of 5.78%. Equities research analysts expect that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Insiders Place Their Bets

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

Close Brothers Group Company Profile

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.