Ardagh Metal Packaging S.A. (NYSE:AMBP) Sees Significant Growth in Short Interest
by Mitch Edgeman · The Markets DailyArdagh Metal Packaging S.A. (NYSE:AMBP – Get Free Report) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 4,653,266 shares, an increase of 24.0% from the February 12th total of 3,753,266 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,120,843 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 2,120,843 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.8% of the shares of the stock are sold short.
Ardagh Metal Packaging Stock Up 2.3%
AMBP traded up $0.10 during trading on Monday, hitting $4.20. The company’s stock had a trading volume of 1,351,691 shares, compared to its average volume of 2,082,825. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -419.50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.53. The firm’s 50 day moving average price is $4.53 and its two-hundred day moving average price is $4.05. Ardagh Metal Packaging has a 12 month low of $2.53 and a 12 month high of $5.03.
Ardagh Metal Packaging (NYSE:AMBP – Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Ardagh Metal Packaging had a negative return on equity of 37.42% and a net margin of 0.20%.During the same quarter in the previous year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Ardagh Metal Packaging will post 0.16 earnings per share for the current year.
Ardagh Metal Packaging Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.40 dividend on an annualized basis and a yield of 9.5%. Ardagh Metal Packaging’s dividend payout ratio is currently -4,000.00%.
Analysts Set New Price Targets
AMBP has been the subject of several recent analyst reports. Truist Financial increased their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Tuesday, January 6th. Wells Fargo & Company upped their target price on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Morgan Stanley set a $4.30 target price on shares of Ardagh Metal Packaging in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Ardagh Metal Packaging in a report on Wednesday, January 21st. Finally, UBS Group boosted their price target on shares of Ardagh Metal Packaging from $4.00 to $4.25 and gave the company a “neutral” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.71.
Check Out Our Latest Stock Report on Ardagh Metal Packaging
Institutional Investors Weigh In On Ardagh Metal Packaging
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMBP. Mercer Global Advisors Inc. ADV raised its stake in shares of Ardagh Metal Packaging by 15.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,703 shares of the company’s stock worth $68,000 after acquiring an additional 2,231 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Ardagh Metal Packaging by 9.1% during the fourth quarter. Cerity Partners LLC now owns 36,465 shares of the company’s stock worth $150,000 after purchasing an additional 3,040 shares in the last quarter. R Squared Ltd grew its stake in shares of Ardagh Metal Packaging by 15.3% during the third quarter. R Squared Ltd now owns 25,046 shares of the company’s stock valued at $100,000 after purchasing an additional 3,328 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Ardagh Metal Packaging by 27.9% in the fourth quarter. Captrust Financial Advisors now owns 15,439 shares of the company’s stock valued at $63,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Ardagh Metal Packaging by 11.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 32,897 shares of the company’s stock valued at $141,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors and hedge funds own 16.93% of the company’s stock.
Ardagh Metal Packaging Company Profile
Ardagh Metal Packaging (NYSE: AMBP) is a global supplier of metal packaging solutions, specializing in the production of steel and aluminum beverage cans, food cans and ends. As a segment of the Ardagh Group, the company supports a broad range of food and beverage customers, including soft drink and craft beer producers, as well as food manufacturers requiring durable, recyclable packaging. Its product portfolio encompasses two‐piece and three‐piece cans, a variety of can ends and closures, and value‐added services such as custom lithography and decorating.
The company operates a network of manufacturing plants across North America and Europe, serving both regional and multinational clients.