Quadrature Capital Ltd Lowers Stock Position in Ardagh Metal Packaging S.A. (NYSE:AMBP)

Quadrature Capital Ltd trimmed its position in shares of Ardagh Metal Packaging S.A. (NYSE:AMBP) by 74.9% during the third quarter, Holdings Channel reports. The firm owned 21,667 shares of the company’s stock after selling 64,773 shares during the quarter. Quadrature Capital Ltd’s holdings in Ardagh Metal Packaging were worth $82,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. boosted its position in shares of Ardagh Metal Packaging by 99.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 284,375 shares of the company’s stock worth $1,072,000 after acquiring an additional 141,850 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Ardagh Metal Packaging during the third quarter worth approximately $124,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Ardagh Metal Packaging by 37.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,778,166 shares of the company’s stock worth $6,704,000 after acquiring an additional 489,146 shares during the period. HighTower Advisors LLC boosted its holdings in Ardagh Metal Packaging by 106.7% in the 3rd quarter. HighTower Advisors LLC now owns 32,524 shares of the company’s stock valued at $122,000 after purchasing an additional 16,786 shares in the last quarter. Finally, Verition Fund Management LLC boosted its position in Ardagh Metal Packaging by 84.4% during the third quarter. Verition Fund Management LLC now owns 127,940 shares of the company’s stock worth $482,000 after purchasing an additional 58,540 shares in the last quarter. 16.93% of the stock is currently owned by institutional investors and hedge funds.

Ardagh Metal Packaging Stock Performance

NYSE:AMBP opened at $3.22 on Friday. Ardagh Metal Packaging S.A. has a 1-year low of $3.16 and a 1-year high of $4.26. The stock has a market cap of $1.92 billion, a P/E ratio of -26.83, a PEG ratio of 0.84 and a beta of 0.61. The company has a debt-to-equity ratio of 124.21, a current ratio of 1.17 and a quick ratio of 0.88. The firm has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.64.

Ardagh Metal Packaging (NYSE:AMBP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Ardagh Metal Packaging had a positive return on equity of 1,760.00% and a negative net margin of 0.99%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $0.06 EPS. Ardagh Metal Packaging’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that Ardagh Metal Packaging S.A. will post 0.16 earnings per share for the current fiscal year.

Ardagh Metal Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 12.42%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s payout ratio is -333.33%.

Wall Street Analyst Weigh In

AMBP has been the subject of a number of analyst reports. Wells Fargo & Company raised Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $4.25 to $5.00 in a report on Tuesday, October 15th. Bank of America downgraded Ardagh Metal Packaging from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $4.90 to $4.00 in a report on Wednesday. Finally, Citigroup lifted their price target on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.92.

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.