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

C&C Group plc (LON:CCR) was down 19.5% during trading on Thursday . The stock traded as low as GBX 116.20 ($1.50) and last traded at GBX 118.96 ($1.54). Approximately 20,348,482 shares changed hands during 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 ($1.91).

Wall Street Analysts Forecast Growth

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

C&C Group Stock Performance

The firm has a 50 day moving average of GBX 146.24 and a 200-day moving average of GBX 150.40. The stock has a market capitalization of £557.94 million, a PE 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.

Insider Buying and Selling

In other news, insider Ralph Findlay bought 66,183 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of GBX 150 ($1.94) per share, with a total value of £99,274.50 ($128,410.94). Also, insider Angela Bromfield bought 13,439 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of GBX 147 ($1.90) per share, for a total transaction of £19,755.33 ($25,553.40). In the last ninety days, insiders acquired 179,622 shares of company stock valued at $24,002,983. Corporate insiders own 3.38% of the company’s stock.

C&C Group Company Profile

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.