1,082,854 Ardagh Metal Packaging S.A. $AMBP Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group cut its Ardagh Metal Packaging stake by 21.8%, selling 1,082,854 shares in the third quarter; it retained 3,882,058 shares, worth about $16.8 million.
• Analyst sentiment is mostly neutral: the stock has a consensus Hold rating and an average price target of $4.88.
• Quarterly revenue rose 18.6% year over year to $1.69 billion, ahead of estimates, while EPS met expectations at $0.08. The company also declared a $0.10 quarterly dividend, equivalent to an 8.3% annualized yield.

Private Management Group Inc. lessened its holdings in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 21.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,882,058 shares of the company's stock after selling 1,082,854 shares during the period. Private Management Group Inc. owned about 0.65% of Ardagh Metal Packaging worth $16,848,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Optiver Holding B.V. boosted its stake in Ardagh Metal Packaging by 540.2% during the 1st quarter. Optiver Holding B.V. now owns 7,145 shares of the company's stock valued at $29,000 after purchasing an additional 6,029 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Ardagh Metal Packaging in the second quarter worth approximately $50,000. Venture Visionary Partners LLC purchased a new stake in shares of Ardagh Metal Packaging in the third quarter worth approximately $55,000. Inceptionr LLC purchased a new stake in shares of Ardagh Metal Packaging in the first quarter worth approximately $63,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Ardagh Metal Packaging in the first quarter valued at approximately $64,000. Institutional investors own 16.93% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMBP. Wells Fargo & Company lifted their target price on Ardagh Metal Packaging from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 15th. Wall Street Zen lowered Ardagh Metal Packaging from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Ardagh Metal Packaging in a research note on Wednesday, November 4th. UBS Group lifted their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.75 and gave the stock a "neutral" rating in a report on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Ardagh Metal Packaging in a report on Thursday, August 20th. They set a "hold" rating and a $5.20 price objective on the stock. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Ardagh Metal Packaging currently has a consensus rating of "Hold" and an average target price of $4.88.

Ardagh Metal Packaging Stock Up 1.8%

Ardagh Metal Packaging stock opened at $4.80 on Tuesday. Ardagh Metal Packaging S.A. has a 52 week low of $3.31 and a 52 week high of $5.47. The company's 50 day moving average price is $4.62 and its two-hundred day moving average price is $4.49. The stock has a market cap of $2.87 billion, a P/E ratio of 53.39, a P/E/G ratio of 0.95 and a beta of 0.52.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.52 billion. Ardagh Metal Packaging had a negative return on equity of 23.24% and a net margin of 0.93%. Ardagh Metal Packaging's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities analysts anticipate that Ardagh Metal Packaging S.A. will post 0.26 EPS for the current year.

Ardagh Metal Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 26th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $0.40 annualized dividend and a yield of 8.3%. Ardagh Metal Packaging's payout ratio is currently 444.44%.

Ardagh Metal Packaging Company Profile

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