C&C Group (LON:CCR) Shares Down 18.7% – Here’s What Happened

C&C Group plc (LON:CCR)’s stock price dropped 18.7% during mid-day trading on Thursday . The stock traded as low as GBX 116.20 ($1.51) and last traded at GBX 120.19 ($1.56). Approximately 21,797,490 shares were traded during trading, an increase of 1,071% from the average daily volume of 1,861,864 shares. The stock had previously closed at GBX 147.80 ($1.91).

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “buy” rating on shares of C&C Group in a research note on Thursday, December 12th.

C&C Group Stock Down 18.7 %

The stock’s 50-day simple moving average is GBX 146.76 and its 200 day simple moving average is GBX 150.64. The firm has a market cap of £545.20 million, a P/E ratio of -5.03, a PEG ratio of 5.61 and a beta of 1.26. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 56.01.

Insiders Place Their Bets

In other C&C Group news, insider Ralph Findlay bought 66,183 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average price of GBX 150 ($1.94) per share, for a total transaction of £99,274.50 ($128,593.91). Also, insider Angela Bromfield purchased 13,439 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of GBX 147 ($1.90) per share, with a total value of £19,755.33 ($25,589.81). Company insiders own 3.38% of the company’s stock.

C&C Group Company Profile

C&C Group plc manufactures, markets, and distributes beer, cider, wine, spirits, and soft drinks in the Republic of Ireland, Great Britain, and internationally. The company offers its products primarily under the Tennent's, Bulmers, Magners, Orchard Pig, Heverlee, 5 Lamps, Fête, Blackthorn, Seven Summits, Dowd's Lane, Chaplin & Cork's, Celedonia Best, and Addlestones brand name.