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

Shares of C&C Group plc (LON:CCR) fell 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). 21,797,490 shares traded hands during mid-day trading, an increase of 1,071% from the average session volume of 1,861,864 shares. The stock had previously closed at GBX 147.80 ($1.91).

Analysts Set New Price Targets

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

C&C Group Stock Up 2.8 %

The company’s fifty day moving average price is GBX 146.24 and its 200-day moving average price is GBX 150.40. The stock has a market capitalization of £557.94 million, a PE ratio of -5.15, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 56.01.

Insider Activity

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