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

C&C Group plc (LON:CCR)’s stock price dropped 18.7% during mid-day trading on Thursday . The company traded as low as GBX 116.20 ($1.51) and last traded at GBX 120.19 ($1.56). Approximately 21,797,490 shares were traded 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 ($1.92).

Analyst Ratings Changes

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

C&C Group Price Performance

The firm has a market cap of £545.20 million, a PE ratio of -5.03, 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. The stock has a 50 day simple moving average of GBX 146.76 and a 200-day simple moving average of GBX 150.64.

Insider Activity

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

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.