Ardagh Metal Packaging S.A. (NYSE:AMBP) Short Interest Down 17.8% in March

Ardagh Metal Packaging S.A. (NYSE:AMBP) was the target 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. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 2.7 days.

Ardagh Metal Packaging Price Performance

Shares of NYSE AMBP traded down $0.03 during trading hours 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 stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -22.25, a PEG ratio of 0.54 and a beta of 0.54. The company’s 50-day moving average price is $2.81 and its 200-day moving average price is $3.14. Ardagh Metal Packaging has a 1-year low of $2.50 and a 1-year high of $4.26.

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

Ardagh Metal Packaging Dividend Announcement

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

Wall Street Analyst Weigh In

AMBP has been the topic of several research reports. UBS Group dropped their price objective 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. Citigroup lowered their target price on Ardagh Metal Packaging from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company restated 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. Finally, Morgan Stanley raised shares of Ardagh Metal Packaging from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $3.60 to $3.10 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.44.

Hedge Funds Weigh In On Ardagh Metal Packaging

Institutional investors and hedge funds have recently bought and sold shares of the business. CWA Asset Management Group LLC raised its holdings in shares of Ardagh Metal Packaging by 42.1% in the first quarter. CWA Asset Management Group LLC now owns 150,203 shares of the company’s stock valued at $454,000 after buying an additional 44,504 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Ardagh Metal Packaging by 10.3% in the first quarter. Janney Montgomery Scott LLC now owns 607,436 shares of the company’s stock worth $1,834,000 after acquiring an additional 56,511 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Ardagh Metal Packaging during the first quarter worth approximately $51,000. Gilman Hill Asset Management LLC grew its stake in shares of Ardagh Metal Packaging by 10.3% during the first quarter. Gilman Hill Asset Management LLC now owns 1,967,087 shares of the company’s stock valued at $5,941,000 after purchasing an additional 184,305 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of Ardagh Metal Packaging by 106,534.2% in the first quarter. NBC Securities Inc. now owns 81,042 shares of the company’s stock valued at $244,000 after purchasing an additional 80,966 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 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.