Short Interest in Ardagh Metal Packaging S.A. (NYSE:AMBP) Increases By 7.1%

Ardagh Metal Packaging S.A. (NYSE:AMBP) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 2,870,000 shares, an increase of 7.1% from the September 30th total of 2,680,000 shares. Based on an average daily trading volume, of 1,240,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.1% of the shares of the stock are sold short.

Ardagh Metal Packaging Price Performance

Ardagh Metal Packaging stock traded down $0.04 during mid-day trading on Friday, reaching $3.64. 631,434 shares of the company’s stock traded hands, compared to its average volume of 1,369,075. Ardagh Metal Packaging has a 12-month low of $3.16 and a 12-month high of $4.26. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -30.58, a PEG ratio of 0.91 and a beta of 0.62. The stock has a 50 day moving average of $3.72 and a two-hundred day moving average of $3.69. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 124.21.

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

Ardagh Metal Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 10.99%. The ex-dividend date of this dividend is Thursday, December 5th. Ardagh Metal Packaging’s dividend payout ratio is currently -333.31%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMBP shares. Wells Fargo & Company upgraded Ardagh Metal Packaging from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $4.25 to $5.00 in a research report on Tuesday, October 15th. UBS Group downgraded shares of Ardagh Metal Packaging from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $5.00 to $3.75 in a report on Wednesday, July 17th. Citigroup upped their target price on shares of Ardagh Metal Packaging from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upgraded shares of Ardagh Metal Packaging from an “underperform” rating to a “buy” rating and lifted their price target for the company from $3.80 to $5.10 in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Ardagh Metal Packaging has an average rating of “Hold” and a consensus target price of $4.08.

Institutional Trading of Ardagh Metal Packaging

Several hedge funds and other institutional investors have recently bought and sold shares of AMBP. CWA Asset Management Group LLC purchased a new stake in Ardagh Metal Packaging in the 3rd quarter worth about $333,000. Janney Montgomery Scott LLC raised its holdings in shares of Ardagh Metal Packaging by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 641,868 shares of the company’s stock worth $2,420,000 after buying an additional 3,290 shares during the period. US Bancorp DE lifted its stake in shares of Ardagh Metal Packaging by 17.8% during the 3rd quarter. US Bancorp DE now owns 39,978 shares of the company’s stock worth $151,000 after acquiring an additional 6,031 shares during the last quarter. PFG Investments LLC boosted its holdings in Ardagh Metal Packaging by 15.4% during the 3rd quarter. PFG Investments LLC now owns 45,634 shares of the company’s stock valued at $172,000 after acquiring an additional 6,092 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Ardagh Metal Packaging during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 16.93% of the company’s stock.

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.