C&C Group (LON:CCR) Shares Down 18.7% – What’s Next?

Shares of C&C Group plc (LON:CCR) dropped 18.7% during mid-day trading 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 changed hands during 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 Analysts Forecast Growth

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

C&C Group Price Performance

The company has a market cap of £557.94 million, a P/E ratio of -5.15, a P/E/G 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. The firm’s fifty day moving average is GBX 146.24 and its two-hundred day moving average is GBX 150.40.

Insiders Place Their Bets

In other news, insider Angela Bromfield acquired 13,439 shares of C&C Group stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of GBX 147 ($1.90) per share, with a total value of £19,755.33 ($25,553.40). Also, insider Roger Alexander White bought 100,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average price of GBX 121 ($1.57) per share, for a total transaction of £121,000 ($156,512.74). Insiders have purchased a total of 179,622 shares of company stock worth $24,002,983 in the last 90 days. 3.38% of the stock is currently 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.