Close Brothers Group (LON:CBG) Shares Up 18.9% - Should You Buy?

Close Brothers Group plc (LON:CBG) saw a significant rise in its share price, climbing by 18.9% during trading on Tuesday. The shares reached a high of GBX 303.96 ($3.75) before closing at GBX 291.05 ($3.59). In total, 39,303,023 shares changed hands, which marks an incredible increase of 536% compared to the average trading volume of 6,178,042 shares. This surge follows a prior closing price of GBX 244.80 ($3.02).

Analysts Set New Price Targets

Various analysts have recently provided their insights on Close Brothers Group shares. On January 7th, 2023, Shore Capital reiterated a "buy" rating for the stock. Additionally, Deutsche Bank reiterated a similar rating and set a price target of GBX 610 ($7.52) in their report dated November 22nd, 2022. Overall, five research analysts currently recommend buying the stock, leading to an average rating of "Buy" with a mean price target of GBX 556.60 ($6.86) according to MarketBeat.

Close Brothers Group Stock Up 18.9%

The recent rally has given Close Brothers Group a market capitalization of £438.00 million. Its PE ratio stands at 485.09, and the PEG ratio is at 1.87, with a beta of 0.82. The stock's fifty-day moving average price is recorded at GBX 223.28, while the 200-day moving average price sits at GBX 364.62.

Insiders Place Their Bets

In other news, insider Mike Morgan sold 10,885 shares on December 13th, 2022. The shares were sold at an average price of GBX 241 ($2.97), resulting in a total transaction value of £26,232.85 ($32,346.30). Currently, 2.91% of Close Brothers Group's shares are held by insiders.

Close Brothers Group Company Profile

Close Brothers Group plc operates as a merchant banking firm in the UK, offering a range of financial services to small businesses and individuals. Their operations are divided into five segments: Commercial, Retail, Property, Asset Management, and Securities. The company's offerings include banking services such as debt factoring, invoice discounting, and asset-based lending, as well as financing options for various sectors, insurance, and savings products.

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This summary has been compiled using financial data and analyst reports concerning Close Brothers Group, aimed at delivering the latest insights for investors.

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

Before making a decision on investing in Close Brothers Group, consider the recommendations from top-rated analysts who track the market closely. MarketBeat identifies stocks that are currently favored by analysts, and Close Brothers Group is not among these top picks.

While the company maintains a "Buy" rating from analysts, there may be stronger investment opportunities available elsewhere.

For further information, feel free to explore more about investment opportunities here.

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