Close Brothers Group (LON:CBG) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 427.01 and traded as low as GBX 382. Close Brothers Group shares last traded at GBX 386.40, with a volume of 240,022 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada cut shares of Close Brothers Group to a “sector perform” rating and lowered their price target for the company from GBX 625 to GBX 470 in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Close Brothers Group currently has a consensus rating of “Moderate Buy” and an average price target of GBX 461.67.

Close Brothers Group Stock Performance

The firm has a market cap of £556.17 million, a P/E ratio of -6.46, a PEG ratio of 1.87 and a beta of 1.24. The company has a 50 day moving average of GBX 406.89 and a 200 day moving average of GBX 426.78.

Close Brothers Group (LON:CBG) last released its quarterly earnings data on Tuesday, September 29th. The company reported GBX 47.50 EPS for the quarter. Close Brothers Group had a negative return on equity of 4.07% and a negative net margin of 7.56%. As a group, analysts expect that Close Brothers Group plc will post 66.01 EPS for the current fiscal year.

Insider Activity at Close Brothers Group

In other news, insider Mike Morgan sold 4,699 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of GBX 389, for a total transaction of £18,279.11. Also, insider Fiona McCarthy sold 1,626 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of GBX 426, for a total transaction of £6,926.76. Insiders own 2.19% 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.