Ardagh Metal Packaging S.A. (NYSE:AMBP) Sees Significant Increase 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 short-interest ratio is presently 3.2 days. Currently, 3.4% of the shares of the company are sold short.

Ardagh Metal Packaging Stock Down 0.2 %

Shares of NYSE AMBP traded down $0.01 during midday trading on Monday, hitting $2.90. The stock had a trading volume of 956,395 shares, compared to its average volume of 1,427,836. Ardagh Metal Packaging has a 1 year low of $2.50 and a 1 year high of $4.26. The company has a market capitalization of $1.73 billion, a PE ratio of -24.13, a P/E/G ratio of 0.54 and a beta of 0.63. The stock has a 50 day simple moving average of $2.76 and a 200-day simple moving average of $3.29.

Ardagh Metal Packaging (NYSE:AMBP) last issued its earnings results on Thursday, February 27th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Ardagh Metal Packaging had a negative net margin of 0.99% and a positive return on equity of 1,760.00%. As a group, analysts expect that Ardagh Metal Packaging will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Ardagh Metal Packaging

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in Ardagh Metal Packaging by 15,834.1% during the third quarter. Citigroup Inc. now owns 5,104,806 shares of the company’s stock worth $19,245,000 after purchasing an additional 5,072,769 shares during the last quarter. Anchorage Capital Advisors L.P. acquired a new position in Ardagh Metal Packaging in the fourth quarter valued at about $5,830,000. King Street Capital Management L.P. boosted its stake 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 buying an additional 1,550,000 shares during the period. CenterBook Partners LP increased its position in shares of Ardagh Metal Packaging by 161.0% during the fourth quarter. CenterBook Partners LP now owns 2,370,730 shares of the company’s stock valued at $7,136,000 after acquiring an additional 1,462,548 shares during the last quarter. Finally, Mountaineer Partners Management LLC purchased a new stake in shares of Ardagh Metal Packaging in the 4th quarter valued at approximately $3,184,000. Institutional investors and hedge funds own 16.93% of the company’s stock.

About Ardagh Metal Packaging

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.