Anchorage Capital Group L.L.C. Reduces Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Anchorage Capital Group L.L.C. decreased its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 50.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,245,385 shares of the company’s stock after selling 1,250,000 shares during the quarter. Ardagh Metal Packaging comprises approximately 1.3% of Anchorage Capital Group L.L.C.’s holdings, making the stock its 6th largest position. Anchorage Capital Group L.L.C. owned about 0.21% of Ardagh Metal Packaging worth $4,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Ardagh Metal Packaging by 167.1% in the fourth quarter. Victory Capital Management Inc. now owns 33,681 shares of the company’s stock valued at $129,000 after acquiring an additional 21,071 shares during the period. Keeley Teton Advisors LLC grew its position in Ardagh Metal Packaging by 6.8% in the 4th quarter. Keeley Teton Advisors LLC now owns 1,687,065 shares of the company’s stock worth $6,478,000 after purchasing an additional 107,684 shares during the last quarter. Angeles Wealth Management LLC bought a new position in shares of Ardagh Metal Packaging during the 4th quarter worth about $1,863,000. Platinum Investment Management Ltd. raised its position in shares of Ardagh Metal Packaging by 146.9% during the fourth quarter. Platinum Investment Management Ltd. now owns 66,982 shares of the company’s stock valued at $257,000 after buying an additional 39,854 shares during the last quarter. Finally, Brightline Capital Management LLC bought a new stake in shares of Ardagh Metal Packaging in the fourth quarter valued at about $8,582,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

Ardagh Metal Packaging Trading Up 1.2 %

Shares of Ardagh Metal Packaging stock opened at $3.67 on Tuesday. The stock has a market capitalization of $2.19 billion, a P/E ratio of -26.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.61. Ardagh Metal Packaging S.A. has a 12-month low of $2.57 and a 12-month high of $4.17. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 124.21. The company has a 50-day simple moving average of $3.53 and a 200 day simple moving average of $3.62.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Ardagh Metal Packaging had a positive return on equity of 114.77% and a negative net margin of 1.02%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company earned $0.04 EPS. Ardagh Metal Packaging’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.40 annualized dividend and a yield of 10.91%. Ardagh Metal Packaging’s dividend payout ratio (DPR) is -285.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on AMBP. Wells Fargo & Company upped their price target on Ardagh Metal Packaging from $3.95 to $4.25 and gave the company an “equal weight” rating in a report on Friday, July 26th. UBS Group lowered shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $3.75 in a report on Wednesday, July 17th. Finally, Citigroup reduced their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating for the company in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.67.

About Ardagh Metal Packaging

Ardagh Metal Packaging SA, together with its subsidiaries, supplies consumer metal beverage cans in Europe, the United States, and Brazil. Its products are used in various end-use categories, including beer, carbonated soft drinks, energy drinks, hard seltzers, juices, pre-mixed cocktails, teas, sparkling waters, and wine.