C&C Group (LON:CCR) Shares Down 18.3% – Here’s Why

C&C Group plc (LON:CCR)’s share price fell 18.3% during trading on Thursday . The company traded as low as GBX 116.20 ($1.50) and last traded at GBX 120.80 ($1.56). 20,107,066 shares traded hands during trading, an increase of 1,000% from the average session volume of 1,828,718 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 research note on Thursday.

C&C Group Stock Up 2.8 %

The firm has a market cap of £557.94 million, a P/E ratio of -5.15, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The company’s 50-day simple moving average is GBX 146.24 and its 200 day simple moving average is GBX 150.40. The company has a debt-to-equity ratio of 56.01, a current ratio of 1.16 and a quick ratio of 0.80.

Insider Activity at C&C Group

In related news, insider Roger Alexander White bought 100,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased 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 bought 66,183 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of GBX 150 ($1.94) per share, for a total transaction of £99,274.50 ($128,410.94). In the last quarter, insiders acquired 179,622 shares of company stock valued at $24,002,983. 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.