Private Management Group Inc. Has $20.79 Million Stock Holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Private Management Group Inc. decreased its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,514,078 shares of the company’s stock after selling 29,093 shares during the quarter. Private Management Group Inc.’s holdings in Ardagh Metal Packaging were worth $20,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. King Street Capital Management L.P. bought a new position in shares of Ardagh Metal Packaging in the second quarter worth about $14,790,000. Squarepoint Ops LLC boosted its position in Ardagh Metal Packaging by 523.8% in the second quarter. Squarepoint Ops LLC now owns 2,914,124 shares of the company’s stock valued at $10,568,000 after buying an additional 2,446,997 shares in the last quarter. Sona Asset Management US LLC bought a new stake in shares of Ardagh Metal Packaging during the first quarter worth $4,288,000. Renaissance Technologies LLC increased its holdings in shares of Ardagh Metal Packaging by 48.7% during the second 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, AQR Capital Management LLC lifted its stake in shares of Ardagh Metal Packaging by 422.4% in the 2nd quarter. AQR Capital Management LLC now owns 319,165 shares of the company’s stock valued at $1,085,000 after acquiring an additional 258,067 shares during the last quarter. Institutional investors own 16.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMBP. Citigroup boosted their price objective on Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. UBS Group cut Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and raised their price objective for the company from $3.80 to $5.10 in a report on Thursday, October 17th. Finally, Wells Fargo & Company raised shares of Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.08.

Ardagh Metal Packaging Stock Performance

Shares of Ardagh Metal Packaging stock traded down $0.04 on Friday, reaching $3.64. 1,311,523 shares of the company traded hands, compared to its average volume of 1,372,207. The company has a 50 day moving average of $3.72 and a 200 day moving average of $3.69. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. Ardagh Metal Packaging S.A. has a 52 week low of $3.16 and a 52 week high of $4.26. The firm has a market capitalization of $2.18 billion, a PE ratio of -30.33, a PEG ratio of 0.91 and a beta of 0.62.

Ardagh Metal Packaging (NYSE:AMBP) last released its earnings results on Thursday, October 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 10.99%. Ardagh Metal Packaging’s dividend payout ratio is currently -333.31%.

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.