C&C Group (LON:CCR) Stock Price Down 18.7% – Here’s Why

C&C Group plc (LON:CCR)’s share price dropped 18.7% during trading on Friday . 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 were traded 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).

Analyst Ratings Changes

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

C&C Group Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 56.01. The company has a market capitalization of £557.94 million, a price-to-earnings ratio of -5.15, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26. The stock’s fifty day simple moving average is GBX 145.73 and its 200-day simple moving average is GBX 150.17.

Insider Transactions at C&C Group

In other news, insider Ralph Findlay acquired 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 Roger Alexander White acquired 100,000 shares of C&C Group stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of GBX 121 ($1.57) per share, for a total transaction of £121,000 ($156,512.74). Over the last 90 days, insiders have purchased 179,622 shares of company stock valued at $24,002,983. 3.38% of the stock is currently owned by company 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.