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

C&C Group plc (LON:CCR) dropped 18.7% 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 traded 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).

Wall Street Analyst Weigh In

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

C&C Group Stock Performance

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 has a 50 day simple moving average of GBX 146.24 and a two-hundred day simple moving average of GBX 150.40. The company has a market cap of £557.94 million, a PE ratio of -5.15, a PEG ratio of 5.61 and a beta of 1.26.

Insider Transactions at C&C Group

In related news, insider Roger Alexander White purchased 100,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price of GBX 121 ($1.57) per share, for a total transaction of £121,000 ($156,512.74). Also, insider Ralph Findlay purchased 66,183 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were bought at an average price of GBX 150 ($1.94) per share, with a total value of £99,274.50 ($128,410.94). Insiders purchased 179,622 shares of company stock worth $24,002,983 over the last 90 days. 3.38% of the stock is currently 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.