C&C Group (LON:CCR) Shares Down 18.7% - Here's Why

C&C Group plc (LON:CCR - Get Free Report) shares traded down 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 were traded 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 reaffirmed a "buy" rating on shares of C&C Group in a report on Thursday.

C&C Group Price Performance

The firm has a 50 day moving average price of GBX 145.73 and a 200 day moving average price of GBX 150.17. The stock has a market cap 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 quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 56.01.

Insiders Place Their Bets

In related news, insider Angela Bromfield acquired 13,439 shares of C&C Group stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of GBX 147 ($1.90) per share, for a total transaction of £19,755.33 ($25,536.88). Also, insider Roger Alexander White bought 100,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of GBX 121 ($1.56) per share, with a total value of £121,000 ($156,411.58). 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.