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

C&C Group plc (LON:CCR) dropped 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). Approximately 21,797,490 shares were traded during 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).

Analyst Ratings Changes

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

C&C Group Stock Performance

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 £557.94 million, a price-to-earnings ratio of -5.15, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The stock’s fifty day moving average is GBX 146.24 and its two-hundred day moving average is GBX 150.40.

Insider Buying and Selling

In related news, insider Roger Alexander White acquired 100,000 shares of the firm’s stock in a transaction on 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). Also, insider Ralph Findlay purchased 66,183 shares of the company’s 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, for a total transaction of £99,274.50 ($128,410.94). Over the last 90 days, insiders have acquired 179,622 shares of company stock worth $24,002,983. 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.