Shares of Majestic Wine PLC (LON:WINE) fell 17.4% during mid-day trading on Thursday . The stock traded as low as GBX 309.50 ($4.04) and last traded at GBX 309.50 ($4.04). 402,615 shares were traded during trading, an increase of 285% from the average session volume of 104,440 shares. The stock had previously closed at GBX 374.50 ($4.89).

WINE has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a GBX 550 ($7.19) target price on shares of Majestic Wine in a report on Thursday, September 13th. Peel Hunt lowered shares of Majestic Wine to a “hold” rating and reduced their target price for the company from GBX 500 ($6.53) to GBX 350 ($4.57) in a report on Thursday. Liberum Capital lowered shares of Majestic Wine to a “hold” rating and reduced their target price for the company from GBX 535 ($6.99) to GBX 360 ($4.70) in a report on Thursday. Finally, Shore Capital restated a “buy” rating on shares of Majestic Wine in a report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Majestic Wine has a consensus rating of “Hold” and an average price target of GBX 407.83 ($5.33).

In other Majestic Wine news, insider James Crawford bought 4,989 shares of Majestic Wine stock in a transaction that occurred on Tuesday, September 11th. The shares were acquired at an average price of GBX 401 ($5.24) per share, for a total transaction of £20,005.89 ($26,141.24).

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About Majestic Wine (LON:WINE)

Majestic Wine plc, together with its subsidiaries, engages in the retailing of wines, beers, and spirits. It operates through four segments: Retail, Commercial, Lay & Wheeler, and Naked Wines. The company offers red, white, rose, fine, dessert, and port and sherry wines; champagne, prosecco, sparkling wine, and cavas under Ruinart, Laurent Perrier, Veuve Clicquot, Bollinger, Nicolas Feuillatte, Taittinger, Krug, Lanson, Moët & Chandon, and Chandon brands; and beer products comprising lager, ale, and craft beers.

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