C&C Group (LON:CCR) Shares Down 19.5% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

C&C Group Price Performance

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 company’s 50 day moving average price is GBX 146.76 and its 200-day moving average price is GBX 150.64. The company has a market cap of £549.87 million, a price-to-earnings ratio of -5.07, a PEG ratio of 5.61 and a beta of 1.26.

Insider Activity

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