Ardagh Metal Packaging S.A. $AMBP Stake Raised by Anchorage Capital Advisors L.P.

Key Points

• An Anchorage Capital Advisors L.P. significantly increased its stake in Ardagh Metal Packaging S.A. by 85.9% during the first quarter, making it the second largest position in their portfolio.
• The company reported a 15.6% year-over-year revenue increase for the quarter, with earnings per share reaching $0.08, surpassing analysts' expectations.
• Ardagh Metal Packaging declared a $0.10 quarterly dividend, which showcases a substantial 11.0% dividend yield, although its payout ratio is remarkably negative at -1,333.33%.

Anchorage Capital Advisors L.P. lifted its position in Ardagh Metal Packaging S.A. (NYSE:AMBP - Free Report) by 85.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,601,083 shares of the company's stock after purchasing an additional 1,664,083 shares during the quarter. Ardagh Metal Packaging comprises about 14.7% of Anchorage Capital Advisors L.P.'s investment portfolio, making the stock its 2nd biggest position. Anchorage Capital Advisors L.P. owned about 0.60% of Ardagh Metal Packaging worth $10,875,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Ardagh Metal Packaging in the 1st quarter valued at about $51,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ardagh Metal Packaging by 84.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 745,986 shares of the company's stock valued at $2,253,000 after acquiring an additional 342,002 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ardagh Metal Packaging by 2.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 137,503 shares of the company's stock valued at $415,000 after acquiring an additional 3,320 shares during the last quarter. Gilman Hill Asset Management LLC lifted its holdings in shares of Ardagh Metal Packaging by 10.3% in 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 acquiring an additional 184,305 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ardagh Metal Packaging by 74.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,220 shares of the company's stock valued at $118,000 after acquiring an additional 16,711 shares during the last quarter. Institutional investors own 16.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on AMBP shares. Morgan Stanley upped their price target on shares of Ardagh Metal Packaging from $3.50 to $4.10 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. UBS Group reduced their price objective on shares of Ardagh Metal Packaging from $4.50 to $4.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. Citigroup boosted their price objective on shares of Ardagh Metal Packaging from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Ardagh Metal Packaging from $5.00 to $4.50 and set an "equal weight" rating for the company in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ardagh Metal Packaging presently has an average rating of "Hold" and a consensus target price of $4.32.

Ardagh Metal Packaging Stock Up 0.7%

Shares of Ardagh Metal Packaging stock traded up $0.03 on Friday, reaching $3.58. The stock had a trading volume of 545,608 shares, compared to its average volume of 831,645. The company has a 50 day moving average price of $4.07 and a 200 day moving average price of $3.61. Ardagh Metal Packaging S.A. has a 1 year low of $2.50 and a 1 year high of $4.78. The stock has a market capitalization of $2.14 billion, a P/E ratio of -119.17, a P/E/G 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.33 billion. Ardagh Metal Packaging had a net margin of 0.13% and a negative return on equity of 76.86%. The company's quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, analysts forecast that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Thursday, August 7th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, August 7th. Ardagh Metal Packaging's dividend payout ratio (DPR) is presently -1,333.33%.

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.