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 mid-day trading on Thursday . The company traded as low as GBX 116.20 ($1.51) and last traded at GBX 120.19 ($1.56). 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 ($1.92).

Analysts Set New Price Targets

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

C&C Group Stock Performance

The company has a 50-day simple moving average of GBX 146.76 and a two-hundred day simple moving average of GBX 150.64. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16. The firm has a market capitalization of £545.20 million, a P/E ratio of -5.03, a PEG ratio of 5.61 and a beta of 1.26.

Insider Activity at C&C Group

In other C&C Group news, insider Angela Bromfield bought 13,439 shares of the stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of GBX 147 ($1.91) per share, for a total transaction of £19,755.33 ($25,619.67). Also, insider Ralph Findlay purchased 66,183 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of GBX 150 ($1.95) per share, for a total transaction of £99,274.50 ($128,744.00). 3.38% of the stock is currently owned by corporate 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.