Bank of New York Mellon Corp boosted its holdings in Ardagh Group SA (NYSE:ARD) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,348 shares of the company’s stock after purchasing an additional 5,945 shares during the quarter. Bank of New York Mellon Corp owned about 0.22% of Ardagh Group worth $756,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Canyon Capital Advisors LLC lifted its stake in Ardagh Group by 29.1% during the 2nd quarter. Canyon Capital Advisors LLC now owns 2,515,101 shares of the company’s stock valued at $56,866,000 after acquiring an additional 566,401 shares in the last quarter. Capital Research Global Investors lifted its stake in Ardagh Group by 1.8% during the 2nd quarter. Capital Research Global Investors now owns 1,018,438 shares of the company’s stock valued at $23,027,000 after acquiring an additional 18,438 shares in the last quarter. Brant Point Investment Management LLC lifted its stake in Ardagh Group by 12.7% during the 2nd quarter. Brant Point Investment Management LLC now owns 401,710 shares of the company’s stock valued at $9,083,000 after acquiring an additional 45,310 shares in the last quarter. Janus Henderson Group PLC bought a new position in Ardagh Group during the 2nd quarter valued at $3,761,000. Finally, TIAA CREF Investment Management LLC bought a new position in Ardagh Group during the 2nd quarter valued at $1,665,000. 87.38% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on ARD shares. Zacks Investment Research cut Ardagh Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Royal Bank of Canada started coverage on Ardagh Group in a research note on Monday, October 9th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, BMO Capital Markets restated a “hold” rating and set a $26.00 price objective on shares of Ardagh Group in a research note on Wednesday, October 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ardagh Group has an average rating of “Buy” and an average target price of $24.35.
Shares of Ardagh Group SA (NYSE:ARD) opened at $20.33 on Friday. Ardagh Group SA has a 52 week low of $19.55 and a 52 week high of $24.54.
Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, October 26th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. analysts anticipate that Ardagh Group SA will post 0.95 EPS for the current year.
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About Ardagh Group
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.
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