Allspring Global Investments Holdings LLC Raises Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Allspring Global Investments Holdings LLC grew its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 36,067.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,183 shares of the company’s stock after purchasing an additional 133,812 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Ardagh Metal Packaging were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMBP. Ballentine Partners LLC purchased a new stake in Ardagh Metal Packaging during the third quarter worth about $42,000. Signaturefd LLC increased its stake in Ardagh Metal Packaging by 23.1% during the third quarter. Signaturefd LLC now owns 18,739 shares of the company’s stock worth $71,000 after purchasing an additional 3,515 shares during the period. HighTower Advisors LLC increased its stake in Ardagh Metal Packaging by 106.7% during the third quarter. HighTower Advisors LLC now owns 32,524 shares of the company’s stock worth $122,000 after purchasing an additional 16,786 shares during the period. Millburn Ridgefield Corp purchased a new stake in Ardagh Metal Packaging during the third quarter worth about $124,000. Finally, Blue Trust Inc. increased its stake in Ardagh Metal Packaging by 23,445.6% during the third quarter. Blue Trust Inc. now owns 34,612 shares of the company’s stock worth $130,000 after purchasing an additional 34,465 shares during the period. 16.93% of the stock is currently owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Stock Up 0.9 %

Shares of AMBP opened at $2.77 on Tuesday. The stock has a 50 day moving average price of $2.81 and a 200 day moving average price of $3.35. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -23.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.64. Ardagh Metal Packaging S.A. has a 52-week low of $2.50 and a 52-week high of $4.26.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group cut their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $3.60 to $3.10 in a research note on Monday, January 13th. Wells Fargo & Company restated an “equal weight” rating and set a $3.35 target price (down from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Citigroup cut their target price on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America lowered shares of Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their target price for the stock from $4.90 to $4.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Ardagh Metal Packaging has a consensus rating of “Hold” and a consensus price target of $3.37.

Ardagh Metal Packaging Profile

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.