Ardagh Metal Packaging S.A. (NYSE:AMBP) Short Interest Up 108.9% in December

Ardagh Metal Packaging S.A. (NYSE:AMBPGet Free Report) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 5,180,000 shares, a growth of 108.9% from the December 15th total of 2,480,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is presently 3.5 days. Approximately 3.8% of the company’s shares are sold short.

Analyst Ratings Changes

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

Check Out Our Latest Report on Ardagh Metal Packaging

Ardagh Metal Packaging Stock Down 1.5 %

AMBP traded down $0.04 on Thursday, reaching $2.80. The company’s stock had a trading volume of 1,688,225 shares, compared to its average volume of 1,663,073. Ardagh Metal Packaging has a fifty-two week low of $2.66 and a fifty-two week high of $4.26. The stock has a 50 day moving average of $3.30 and a two-hundred day moving average of $3.51. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -23.30, a P/E/G ratio of 0.50 and a beta of 0.65.

Ardagh Metal Packaging (NYSE:AMBPGet Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 14.31%. The ex-dividend date of this dividend was Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is -333.31%.

Institutional Trading of Ardagh Metal Packaging

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its position in Ardagh Metal Packaging by 15,834.1% during the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after buying an additional 5,072,769 shares during the period. King Street Capital Management L.P. acquired a new position in shares of Ardagh Metal Packaging in the 2nd quarter valued at $14,790,000. Squarepoint Ops LLC raised its position in Ardagh Metal Packaging by 523.8% in the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after purchasing an additional 2,446,997 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Ardagh Metal Packaging by 37.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after purchasing an additional 489,146 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Ardagh Metal Packaging by 48.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after purchasing an additional 433,700 shares during the period. 16.93% of the stock is owned by hedge funds and other institutional investors.

Ardagh Metal Packaging Company Profile

(Get Free Report)

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.

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