C&C Group (LON:CCR) Shares Down 18.7% – Time to Sell?

C&C Group plc (LON:CCR) fell 18.7% during mid-day trading on Thursday . The stock 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).

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 Up 2.8 %

The company’s fifty day simple moving average is GBX 146.24 and its 200-day simple moving average is GBX 150.40. The company has a debt-to-equity ratio of 56.01, a current ratio of 1.16 and a quick ratio of 0.80. The firm 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.

Insider Activity

In related news, insider Roger Alexander White acquired 100,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of GBX 121 ($1.57) per share, with a total value of £121,000 ($156,512.74). Also, insider Angela Bromfield purchased 13,439 shares of the stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of GBX 147 ($1.90) per share, for a total transaction of £19,755.33 ($25,553.40). Insiders have purchased 179,622 shares of company stock valued at $24,002,983 over the last ninety days. 3.38% of the stock is currently owned by 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.