Ardagh Metal Packaging S.A. (NYSE:AMBP) Sees Large Growth in Short Interest

Ardagh Metal Packaging S.A. (NYSE:AMBP) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 4,730,000 shares, an increase of 55.1% from the February 13th total of 3,050,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.4% of the company’s stock are short sold.

Ardagh Metal Packaging Stock Down 0.2 %

Shares of NYSE AMBP traded down $0.01 during trading hours on Monday, hitting $2.90. 956,395 shares of the stock were exchanged, compared to its average volume of 1,427,836. The company has a market cap of $1.73 billion, a PE ratio of -24.13, a PEG ratio of 0.54 and a beta of 0.63. Ardagh Metal Packaging has a 12 month low of $2.50 and a 12 month high of $4.26. The firm has a fifty day moving average price of $2.76 and a 200-day moving average price of $3.29.

Ardagh Metal Packaging (NYSE:AMBP) last announced its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 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 company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. As a group, equities analysts anticipate that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 13.82%. Ardagh Metal Packaging’s payout ratio is -800.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMBP shares. Morgan Stanley upgraded shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $3.60 to $3.10 in a report on Monday, January 13th. Citigroup dropped their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $3.35 target price (down previously from $3.60) on shares of Ardagh Metal Packaging in a research report on Thursday, January 16th. UBS Group reduced their price target on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Bank of America cut Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $4.90 to $4.00 in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.44.

Institutional Investors Weigh In On Ardagh Metal Packaging

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its position in Ardagh Metal Packaging by 300.4% during the 4th quarter. Mackenzie Financial Corp now owns 54,244 shares of the company’s stock worth $163,000 after acquiring an additional 40,696 shares during the period. Shay Capital LLC purchased a new position in shares of Ardagh Metal Packaging in the fourth quarter worth about $506,000. ProShare Advisors LLC lifted its holdings in shares of Ardagh Metal Packaging by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 40,696 shares of the company’s stock worth $122,000 after purchasing an additional 13,390 shares during the period. Mountaineer Partners Management LLC acquired a new position in Ardagh Metal Packaging in the 4th quarter worth approximately $3,184,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ardagh Metal Packaging by 10.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,421,972 shares of the company’s stock worth $10,300,000 after acquiring an additional 312,640 shares during the period. 16.93% of the stock is owned by hedge funds and other institutional investors.

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.