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

C&C Group plc (LON:CCR)’s share price traded down 18.7% during mid-day trading on Thursday . The stock traded as low as GBX 116.20 ($1.50) and last traded at GBX 120.19 ($1.55). 21,797,490 shares were traded during mid-day 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).

Analysts Set New Price Targets

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

C&C Group Stock Up 2.8 %

The company’s 50-day moving average is GBX 146.24 and its 200 day moving average is GBX 150.40. The company has a market capitalization of £557.94 million, a PE ratio of -5.15, a P/E/G ratio of 5.61 and a beta of 1.26. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16.

Insider Activity at C&C Group

In related news, insider Roger Alexander White purchased 100,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of GBX 121 ($1.57) per share, with a total value of £121,000 ($156,512.74). Also, insider Angela Bromfield purchased 13,439 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of GBX 147 ($1.90) per share, for a total transaction of £19,755.33 ($25,553.40). In the last ninety days, insiders have bought 179,622 shares of company stock valued at $24,002,983. 3.38% of the stock is owned by 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.