Ardagh Metal Packaging S.A. $AMBP Shares Sold by Anchorage Capital Group L.L.C.

Key Points

• Anchorage Capital Group L.L.C. has reduced its holdings in Ardagh Metal Packaging by 50.1%, now owning approximately 1.5% of the company, making it their 6th largest investment.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a target price of $4.32, while Citigroup recently upgraded its rating to "Buy" with a price target of $5.00.
• Ardagh Metal Packaging announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 10.9%, with a negative dividend payout ratio of -1,333.33%.

Anchorage Capital Group L.L.C. cut its stake in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 50.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,245,385 shares of the company's stock after selling 1,250,000 shares during the quarter. Ardagh Metal Packaging comprises approximately 1.5% of Anchorage Capital Group L.L.C.'s investment portfolio, making the stock its 6th biggest position. Anchorage Capital Group L.L.C. owned about 0.21% of Ardagh Metal Packaging worth $3,798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Private Management Group Inc. grew its holdings in shares of Ardagh Metal Packaging by 4.8% in the first quarter. Private Management Group Inc. now owns 5,690,572 shares of the company's stock valued at $17,186,000 after purchasing an additional 258,298 shares during the period. Diameter Capital Partners LP grew its stake in shares of Ardagh Metal Packaging by 10.1% in the 4th quarter. Diameter Capital Partners LP now owns 4,374,121 shares of the company's stock valued at $13,166,000 after buying an additional 400,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ardagh Metal Packaging by 10.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,421,972 shares of the company's stock valued at $10,300,000 after buying an additional 312,640 shares during the period. King Street Capital Management L.P. increased its holdings in shares of Ardagh Metal Packaging by 155.0% during the 4th 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 last quarter. Finally, Gilman Hill Asset Management LLC raised its position in shares of Ardagh Metal Packaging by 10.3% during the 1st quarter. Gilman Hill Asset Management LLC now owns 1,967,087 shares of the company's stock valued at $5,941,000 after buying an additional 184,305 shares during the period. Institutional investors and hedge funds own 16.93% of the company's stock.

Analysts Set New Price Targets

AMBP has been the subject of several analyst reports. UBS Group lowered their price objective on Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating for the company in a research report on Tuesday, July 29th. Wells Fargo & Company decreased their price target on Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Monday, July 28th. Morgan Stanley increased their price target on Ardagh Metal Packaging from $3.50 to $4.10 and gave the stock an "equal weight" rating in a report on Wednesday, June 25th. Finally, Citigroup raised their price objective on Ardagh Metal Packaging from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $4.32.

Ardagh Metal Packaging Stock Up 0.7%

NYSE:AMBP traded up $0.03 during trading hours on Friday, reaching $3.58. 545,608 shares of the stock were exchanged, compared to its average volume of 804,592. Ardagh Metal Packaging S.A. has a twelve month low of $2.50 and a twelve month high of $4.78. The business has a 50-day moving average of $4.07 and a two-hundred day moving average of $3.62. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -119.17, a PEG ratio of 1.27 and a beta of 0.55.

Ardagh Metal Packaging (NYSE:AMBP - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.33 billion. Ardagh Metal Packaging had a negative return on equity of 76.86% and a net margin of 0.13%.The company's revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, research analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 EPS for the current fiscal year.

Ardagh Metal Packaging Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Thursday, August 7th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.40 dividend on an annualized basis and a yield of 11.2%. Ardagh Metal Packaging's dividend payout ratio is -1,333.33%.

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.