Verition Fund Management LLC Boosts Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Verition Fund Management LLC grew its holdings in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 84.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,940 shares of the company’s stock after buying an additional 58,540 shares during the quarter. Verition Fund Management LLC’s holdings in Ardagh Metal Packaging were worth $482,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMBP. Citigroup Inc. grew its position in Ardagh Metal Packaging by 15,834.1% in the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock valued at $19,245,000 after acquiring an additional 5,072,769 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in Ardagh Metal Packaging during the 2nd quarter valued at $14,790,000. Squarepoint Ops LLC increased its stake in Ardagh Metal Packaging by 523.8% during the 2nd quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock worth $10,568,000 after buying an additional 2,446,997 shares during the period. Renaissance Technologies LLC lifted its holdings in Ardagh Metal Packaging by 48.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,325,132 shares of the company’s stock worth $4,505,000 after buying an additional 433,700 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Ardagh Metal Packaging by 11.1% in the 1st quarter. Vanguard Group Inc. now owns 1,065,659 shares of the company’s stock valued at $3,655,000 after buying an additional 106,206 shares during the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on AMBP shares. Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and cut their price target for the stock from $4.90 to $4.00 in a research note on Wednesday. Wells Fargo & Company raised shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. Finally, Citigroup boosted their price target on Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of “Hold” and a consensus target price of $3.92.

Ardagh Metal Packaging Trading Down 7.9 %

Shares of NYSE:AMBP opened at $3.20 on Thursday. The company’s 50-day moving average price is $3.73 and its 200 day moving average price is $3.64. The company has a market cap of $1.91 billion, a PE ratio of -26.63, a P/E/G ratio of 0.84 and a beta of 0.61. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21. Ardagh Metal Packaging S.A. has a fifty-two week low of $3.16 and a fifty-two week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. Ardagh Metal Packaging’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 12.52%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is presently -333.33%.

Ardagh Metal Packaging Company 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.