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

C&C Group plc (LON:CCR)’s share price dropped 18.7% during trading on Thursday . The stock 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 mid-day 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).

Analysts Set New Price Targets

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

C&C Group Stock Up 2.8 %

The stock has a 50-day moving average price of GBX 146.24 and a 200-day moving average price of GBX 150.40. The company has a market capitalization 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 current ratio of 1.16 and a quick ratio of 0.80.

Insider Buying and Selling

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 purchased at an average price of GBX 147 ($1.90) per share, with a total value of £19,755.33 ($25,553.40). Also, insider Roger Alexander White acquired 100,000 shares of C&C Group stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of GBX 121 ($1.57) per share, with a total value of £121,000 ($156,512.74). Insiders acquired 179,622 shares of company stock valued at $24,002,983 over the last 90 days. Company 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.