Ardagh Group SA (ARD) Stake Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in Ardagh Group SA (NYSE:ARD) by 52.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 70,969 shares of the company’s stock after selling 77,141 shares during the period. Wells Fargo & Company MN’s holdings in Ardagh Group were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Ardagh Group by 20.9% during the 2nd quarter. Northern Trust Corp now owns 44,311 shares of the company’s stock worth $737,000 after buying an additional 7,675 shares during the period. Canyon Capital Advisors LLC raised its holdings in Ardagh Group by 0.4% during the 2nd quarter. Canyon Capital Advisors LLC now owns 2,658,756 shares of the company’s stock worth $44,189,000 after buying an additional 9,500 shares during the period. Private Management Group Inc. acquired a new stake in Ardagh Group during the 2nd quarter worth about $2,118,000. BlackRock Inc. raised its holdings in Ardagh Group by 11.3% during the 2nd quarter. BlackRock Inc. now owns 415,230 shares of the company’s stock worth $6,901,000 after buying an additional 42,162 shares during the period. Finally, Sei Investments Co. raised its holdings in Ardagh Group by 127.6% during the 2nd quarter. Sei Investments Co. now owns 17,659 shares of the company’s stock worth $294,000 after buying an additional 9,900 shares during the period. 89.03% of the stock is owned by institutional investors.

NYSE:ARD opened at $11.30 on Friday. Ardagh Group SA has a fifty-two week low of $10.09 and a fifty-two week high of $20.53. The stock has a market cap of $213.37 million, a price-to-earnings ratio of 6.14 and a beta of 1.06.

Ardagh Group (NYSE:ARD) last released its earnings results on Thursday, October 25th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). Ardagh Group had a net margin of 0.94% and a negative return on equity of 30.73%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.32 billion. As a group, equities research analysts forecast that Ardagh Group SA will post 1.64 earnings per share for the current year.

Several research firms have issued reports on ARD. Zacks Investment Research upgraded Ardagh Group from a “sell” rating to a “hold” rating in a report on Thursday, September 27th. Credit Suisse Group reaffirmed a “neutral” rating and set a $15.30 target price (down previously from $21.00) on shares of Ardagh Group in a research note on Monday, November 12th. Deutsche Bank set a $18.00 target price on Ardagh Group and gave the company a “buy” rating in a research note on Monday, October 29th. Barclays lowered their target price on Ardagh Group from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, October 29th. Finally, Citigroup lowered their target price on Ardagh Group from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.72.

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About Ardagh Group

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

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