Canyon Capital Advisors LLC Has $56.87 Million Stake in Ardagh Group S.A. (ARD)
Canyon Capital Advisors LLC grew its stake in Ardagh Group S.A. (NYSE:ARD) by 29.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,515,101 shares of the company’s stock after purchasing an additional 566,401 shares during the period. Ardagh Group makes up about 0.9% of Canyon Capital Advisors LLC’s holdings, making the stock its 14th largest holding. Canyon Capital Advisors LLC owned approximately 1.06% of Ardagh Group worth $56,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Federated Investors Inc. PA grew its position in shares of Ardagh Group by 18.6% in the second quarter. Federated Investors Inc. PA now owns 94,180 shares of the company’s stock valued at $2,130,000 after purchasing an additional 14,770 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Ardagh Group by 74.7% in the second quarter. Schroder Investment Management Group now owns 698,724 shares of the company’s stock valued at $15,819,000 after purchasing an additional 298,724 shares in the last quarter. BlueMar Capital Management LLC purchased a new stake in shares of Ardagh Group in the first quarter valued at approximately $2,916,000. UBS Group AG purchased a new stake in shares of Ardagh Group in the first quarter valued at approximately $2,913,000. Finally, Ngam Advisors L.P. purchased a new stake in shares of Ardagh Group in the first quarter valued at approximately $644,000. Institutional investors and hedge funds own 99.93% of the company’s stock.
Shares of Ardagh Group S.A. (ARD) traded down 0.24% on Friday, reaching $21.19. The company had a trading volume of 19,318 shares. The firm has a 50-day moving average price of $20.83 and a 200 day moving average price of $21.48. Ardagh Group S.A. has a 1-year low of $0.09 and a 1-year high of $24.54. The firm’s market capitalization is $5.01 billion.
Ardagh Group (NYSE:ARD) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.24. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.01 billion. The company’s revenue was up 57.8% on a year-over-year basis. Equities research analysts predict that Ardagh Group S.A. will post $1.74 earnings per share for the current year.
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A number of research firms have recently issued reports on ARD. Zacks Investment Research lowered Ardagh Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Barclays PLC reiterated a “hold” rating and issued a $23.00 price objective on shares of Ardagh Group in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets assumed coverage on Ardagh Group in a research report on Monday, June 19th. They issued a “market perform” rating and a $26.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $24.17.
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.
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