C&C Group (LON:CCR) Trading Down 19.5% – Here’s Why

C&C Group plc (LON:CCR) shares dropped 19.5% on Thursday . The stock traded as low as GBX 116.20 ($1.51) and last traded at GBX 118.96 ($1.54). Approximately 20,348,482 shares were traded during mid-day trading, an increase of 1,010% from the average daily volume of 1,833,452 shares. The stock had previously closed at GBX 147.80 ($1.92).

Wall Street Analyst Weigh In

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

C&C Group Stock Performance

The company has a 50-day moving average of GBX 146.76 and a 200-day moving average of GBX 150.64. The firm has a market capitalization of £549.87 million, a price-to-earnings ratio of -5.07, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 56.01.

Insiders Place Their Bets

In related news, insider Ralph Findlay acquired 66,183 shares of C&C Group stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of GBX 150 ($1.95) per share, for a total transaction of £99,274.50 ($128,744.00). Also, insider Angela Bromfield acquired 13,439 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of GBX 147 ($1.91) per share, for a total transaction of £19,755.33 ($25,619.67). 3.38% of the stock is owned by corporate 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.