Ardagh Metal Packaging S.A. (NYSE:AMBP) Sees Significant Decrease in Short Interest

Ardagh Metal Packaging S.A. (NYSE:AMBP) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 4,300,000 shares, a drop of 17.8% from the March 15th total of 5,230,000 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 2.7 days.

Ardagh Metal Packaging Stock Down 1.1 %

Ardagh Metal Packaging stock traded down $0.03 during mid-day trading on Monday, hitting $2.67. 879,082 shares of the company’s stock were exchanged, compared to its average volume of 1,470,837. The company’s 50 day simple moving average is $2.81 and its 200-day simple moving average is $3.14. The firm has a market capitalization of $1.60 billion, a P/E ratio of -22.25, a PEG ratio of 0.54 and a beta of 0.54. Ardagh Metal Packaging has a fifty-two week low of $2.50 and a fifty-two week high of $4.26.

Ardagh Metal Packaging (NYSE:AMBP) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.03 earnings per share 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 business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Research analysts expect that Ardagh Metal Packaging will post 0.16 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 14.98%. The ex-dividend date of this dividend was Thursday, March 13th. Ardagh Metal Packaging’s dividend payout ratio is -800.00%.

Wall Street Analyst Weigh In

AMBP has been the topic of several recent research reports. UBS Group reduced their target price on shares of Ardagh Metal Packaging from $4.25 to $2.75 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $3.60 to $3.10 in a report on Monday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $3.35 price target (down previously from $3.60) on shares of Ardagh Metal Packaging in a research note on Thursday, January 16th. Finally, Citigroup reduced their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging currently has a consensus rating of “Hold” and a consensus target price of $3.44.

Institutional Investors Weigh In On Ardagh Metal Packaging

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diameter Capital Partners LP lifted its holdings in shares of Ardagh Metal Packaging by 10.1% in the fourth quarter. Diameter Capital Partners LP now owns 4,374,121 shares of the company’s stock valued at $13,166,000 after purchasing an additional 400,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ardagh Metal Packaging by 10.1% during the 4th 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 in the last quarter. Solas Capital Management LLC lifted its position in shares of Ardagh Metal Packaging by 10.9% in the fourth quarter. Solas Capital Management LLC now owns 3,361,378 shares of the company’s stock worth $10,118,000 after purchasing an additional 330,000 shares in the last quarter. King Street Capital Management L.P. boosted its holdings in Ardagh Metal Packaging by 155.0% during the fourth quarter. King Street Capital Management L.P. now owns 2,550,000 shares of the company’s stock worth $7,676,000 after purchasing an additional 1,550,000 shares during the last quarter. Finally, CenterBook Partners LP grew its position in Ardagh Metal Packaging by 161.0% in the fourth quarter. CenterBook Partners LP now owns 2,370,730 shares of the company’s stock valued at $7,136,000 after purchasing an additional 1,462,548 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors and hedge funds.

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.