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

C&C Group plc (LON:CCR)’s share price traded down 18.7% during trading on Thursday . The company traded as low as GBX 116.20 ($1.50) and last traded at GBX 120.19 ($1.55). 21,797,490 shares changed hands during trading, an increase of 1,071% from the average session 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.

C&C Group Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 56.01. The firm has a market capitalization of £557.94 million, a price-to-earnings ratio of -5.15, a PEG ratio of 5.61 and a beta of 1.26. The stock’s 50 day moving average price is GBX 146.24 and its two-hundred day moving average price is GBX 150.40.

Insider Transactions at C&C Group

In other C&C Group news, insider Ralph Findlay acquired 66,183 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of GBX 150 ($1.94) per share, with a total value of £99,274.50 ($128,410.94). Also, insider Roger Alexander White acquired 100,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of GBX 121 ($1.57) per share, for a total transaction of £121,000 ($156,512.74). Insiders have purchased a total of 179,622 shares of company stock valued at $24,002,983 in the last ninety days. 3.38% of the stock is currently owned by company insiders.

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.