Renaissance Technologies LLC boosted its stake in Ardagh Group SA (NYSE:ARD) by 47.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 568,290 shares of the company’s stock after purchasing an additional 183,600 shares during the quarter. Renaissance Technologies LLC owned about 3.05% of Ardagh Group worth $9,945,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ARD. Machina Capital S.A.S. acquired a new position in Ardagh Group in the second quarter valued at about $76,000. Calamos Advisors LLC bought a new position in Ardagh Group in the second quarter valued at about $201,000. Barings LLC bought a new position in Ardagh Group in the first quarter valued at about $228,000. Bank of America Corp DE grew its position in Ardagh Group by 369.9% in the fourth quarter. Bank of America Corp DE now owns 24,239 shares of the company’s stock valued at $268,000 after acquiring an additional 19,081 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Ardagh Group by 54.5% in the second quarter. Gabelli Funds LLC now owns 15,586 shares of the company’s stock valued at $273,000 after acquiring an additional 5,500 shares during the last quarter. 85.38% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Ardagh Group from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. ValuEngine cut Ardagh Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Ardagh Group from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. cut Ardagh Group from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $15.00 to $17.00 in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $18.22.
Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.32 billion. Ardagh Group had a negative net margin of 0.61% and a negative return on equity of 26.87%. The business’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. Research analysts anticipate that Ardagh Group SA will post 1.66 EPS for the current fiscal year.
The company also recently declared a dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, August 15th.
Ardagh Group Company Profile
Ardagh Group SA manufactures and supplies rigid packaging solutions primarily for the food and beverage markets worldwide. The company operates in four segments: Metal Packaging Europe, Metal Packaging Americas, Glass Packaging Europe, and Glass Packaging North America. Its metal packaging products include aluminum and steel beverage cans; two-piece aluminum, two-piece tinplate, and three-piece tinplate food and specialty cans; and a range of can ends, including easy-open and peelable ends.
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