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

C&C Group plc (LON:CCR)’s stock price dropped 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). Approximately 21,797,490 shares were traded during mid-day 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 reissued a “buy” rating on shares of C&C Group in a research report on Thursday.

C&C Group Price Performance

The stock has a market cap of £557.94 million, a price-to-earnings 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 current ratio of 1.16 and a quick ratio of 0.80. The stock’s 50 day simple moving average is GBX 146.24 and its two-hundred day simple moving average is GBX 150.40.

Insiders Place Their Bets

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

About C&C Group

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.