Brant Point Investment Management LLC Raises Holdings in Ardagh Group S.A. (ARD)

Brant Point Investment Management LLC raised its stake in Ardagh Group S.A. (NYSE:ARD) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 401,710 shares of the company’s stock after purchasing an additional 45,310 shares during the period. Ardagh Group makes up approximately 1.1% of Brant Point Investment Management LLC’s holdings, making the stock its 13th biggest position. Brant Point Investment Management LLC owned 0.17% of Ardagh Group worth $9,083,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Ardagh Group in the 1st quarter valued at $239,000. Wells Fargo & Company MN lifted its holdings in shares of Ardagh Group by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 11,740 shares of the company’s stock worth $265,000 after acquiring an additional 126 shares during the period. Rhumbline Advisers bought a new position in shares of Ardagh Group during the 2nd quarter worth about $324,000. Point72 Asia Hong Kong Ltd bought a new position in shares of Ardagh Group during the 1st quarter worth about $329,000. Finally, BB&T Corp bought a new position in shares of Ardagh Group during the 2nd quarter worth about $409,000. 99.93% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on ARD shares. BMO Capital Markets started coverage on shares of Ardagh Group in a report on Monday, June 19th. They set a “market perform” rating and a $26.00 price objective for the company. Zacks Investment Research raised shares of Ardagh Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $23.00 price objective on shares of Ardagh Group in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $24.50.

Ardagh Group S.A. (ARD) traded up 0.34% during trading on Wednesday, hitting $20.94. 23,299 shares of the stock were exchanged. The stock’s market capitalization is $4.95 billion. Ardagh Group S.A. has a 52 week low of $20.00 and a 52 week high of $24.54. The firm has a 50-day moving average of $21.09 and a 200-day moving average of $21.54.

Ardagh Group (NYSE:ARD) last announced its earnings results on Thursday, July 27th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.24. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. Ardagh Group’s revenue was up 57.8% compared to the same quarter last year. Equities research analysts anticipate that Ardagh Group S.A. will post $1.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th were given a $0.14 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.68%.

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Ardagh Group Company Profile

Ardagh Group SA, formerly Ardagh Finance Holdings SA, is a Luxembourg-based company engaged in the packing industry. The Company focuses on the design and manufacture of rigid packaging solutions mainly for food and beverage markets. Its activities are divided into two business segments: Metal packing, which supplies aluminum and steel beverage cans, two-piece aluminum, two-piece tinplate and three-piece tinplate food and specialty cans, as well as a range of can ends, among others, and Glass packing, which delivers glass containers, bottles and jars, among others.

Institutional Ownership by Quarter for Ardagh Group (NYSE:ARD)

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