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

C&C Group plc (LON:CCR) dropped 18.7% during mid-day trading on Thursday . The stock traded as low as GBX 116.20 ($1.51) and last traded at GBX 120.19 ($1.56). 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).

Analyst Upgrades and Downgrades

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

C&C Group Stock Performance

The business has a 50 day moving average of GBX 146.76 and a 200-day moving average of GBX 150.64. The company has a market capitalization of £545.20 million, a P/E ratio of -5.03, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16.

Insider Activity

In other news, insider Angela Bromfield purchased 13,439 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of GBX 147 ($1.90) per share, with a total value of £19,755.33 ($25,589.81). Also, insider Ralph Findlay acquired 66,183 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of GBX 150 ($1.94) per share, for a total transaction of £99,274.50 ($128,593.91). Company 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.