GAMMA Investing LLC Buys 22,946 Shares of Amcor plc (NYSE:AMCR)

GAMMA Investing LLC grew its holdings in Amcor plc (NYSE:AMCR) by 149.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,259 shares of the company’s stock after acquiring an additional 22,946 shares during the quarter. GAMMA Investing LLC’s holdings in Amcor were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its holdings in shares of Amcor by 52.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 9,076 shares of the company’s stock valued at $86,000 after purchasing an additional 3,116 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after purchasing an additional 2,519 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of Amcor by 556.9% during the first quarter. Cetera Advisors LLC now owns 132,975 shares of the company’s stock valued at $1,265,000 after purchasing an additional 112,732 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Amcor by 56.2% in the first quarter. Cetera Investment Advisers now owns 412,622 shares of the company’s stock worth $3,924,000 after acquiring an additional 148,482 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Amcor during the 1st quarter worth approximately $406,000. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

NYSE AMCR traded down $0.20 on Monday, reaching $10.32. The company had a trading volume of 15,102,177 shares, compared to its average volume of 9,159,270. The firm’s 50 day moving average price is $10.00 and its 200 day moving average price is $9.61. Amcor plc has a 12 month low of $8.45 and a 12 month high of $10.62. The stock has a market capitalization of $14.92 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 4.64 and a beta of 0.86. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 1.76.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMCR shares. Wells Fargo & Company initiated coverage on Amcor in a report on Friday, June 28th. They issued an “equal weight” rating and a $9.80 target price on the stock. Stifel Nicolaus initiated coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. Finally, JPMorgan Chase & Co. upped their target price on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.15.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.