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

Shares of C&C Group plc (LON:CCR) dropped 18.7% during trading on Thursday . The stock traded as low as GBX 116.20 ($1.50) and last traded at GBX 120.19 ($1.55). Approximately 21,797,490 shares changed hands 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).

Analysts Set New Price Targets

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

C&C Group Price Performance

The company has a fifty day moving average of GBX 146.24 and a 200 day moving average of GBX 150.40. The firm has a market capitalization of £557.94 million, a P/E ratio of -5.15, a PEG 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.

Insider Activity at C&C Group

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