Rhizome Partners, an investment management firm, has released its third quarter 2022 letter to investors. A copy of it can be downloaded here. In the third quarter, the fund generated a net loss of 4.8%, compared to a loss of 4.9% for the S&P 500 index and a loss of 10.8% for the National Association of Real Estate Investment Trusts (NAREIT ). The fund’s hedging efforts generated a gain of 2.9% during the quarter. Additionally, you can check out the fund’s top 5 holdings for its top picks in 2022.
Rhizome Partners has highlighted stocks like Ardagh Metal Packaging SA (NYSE: AMBP) in its third quarter 2022 letter to investors. Based in Luxembourg, Luxembourg, Ardagh Metal Packaging SA (NYSE: AMBP) is a supplier of metal cans . On December 6, 2022, Ardagh Metal Packaging SA (NYSE: AMBP) stock closed at $4.6000 per share. Ardagh Metal Packaging SA’s (NYSE: AMBP) one-month return was 4.55% and its shares have lost 51.58% of their value over the past 52 weeks. Ardagh Metal Packaging SA (NYSE: AMBP) has a market capitalization of $2.774 billion.
Rhizome Partners made the following comment about Ardagh Metal Packaging SA (NYSE: AMBP) in its third quarter 2022 letter to investors:
“Ardagh Metal Packaging SA. (NYSE: AMBP) is the most exposed to the economic crisis in Europe, with a third of its EBITDA generated in Europe. During the summer, there were serious concerns about how Europe could get enough energy this winter. Europe has stockpiled coal and natural gas and created contingency plans. It’s still a concern we’re monitoring, but it’s hard to imagine Ardagh Meal Packing going out of power. In the long term, the aluminum can packaging industry is a rational oligopoly that will adjust supply to market demand. All four players – Ball Corporation, Crown Holdings, Ardagh Metal Packaging and CanPack – are poised to achieve high returns on invested capital. In the short term, the timing of input cost pass-through and challenges in the European market temporarily impacted cash flow. Ardagh Metal Packaging’s debt is fixed and maturing, with the earliest maturity in 2027. The business continues to generate a prodigious amount of cash flow, as all packaging businesses do through all cycles economic. Additionally, we now receive an 8.3% dividend, which we will reinvest in additional shares or other investment opportunities. »
Pixabay/Public Domain
Ardagh Metal Packaging SA (NYSE: AMBP) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 23 hedge fund portfolios held Ardagh Metal Packaging SA (NYSE: AMBP) at the end of the third quarter, compared to 25 in the previous quarter.
We discussed Ardagh Metal Packaging SA (NYSE: AMBP) in another article and reviewed Canyon Capital’s stock picks. In addition, please see our Q3 2022 Hedge Fund Investor Letters page for more letters to hedge fund investors and other leading investors.
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Disclosure: none. This article originally appeared on Insider Monkey.
Rhizome Partners, an investment management firm, has released its third quarter 2022 letter to investors. A copy of it can be downloaded here. In the third quarter, the fund generated a net loss of 4.8%, compared to a loss of 4.9% for the S&P 500 index and a loss of 10.8% for the National Association of Real Estate Investment Trusts (NAREIT ). The fund’s hedging efforts generated a gain of 2.9% during the quarter. Additionally, you can check out the fund’s top 5 holdings for its top picks in 2022.
Rhizome Partners has highlighted stocks like Ardagh Metal Packaging SA (NYSE: AMBP) in its third quarter 2022 letter to investors. Based in Luxembourg, Luxembourg, Ardagh Metal Packaging SA (NYSE: AMBP) is a supplier of metal cans . On December 6, 2022, Ardagh Metal Packaging SA (NYSE: AMBP) stock closed at $4.6000 per share. Ardagh Metal Packaging SA’s (NYSE: AMBP) one-month return was 4.55% and its shares have lost 51.58% of their value over the past 52 weeks. Ardagh Metal Packaging SA (NYSE: AMBP) has a market capitalization of $2.774 billion.
Rhizome Partners made the following comment about Ardagh Metal Packaging SA (NYSE: AMBP) in its third quarter 2022 letter to investors:
“Ardagh Metal Packaging SA. (NYSE: AMBP) is the most exposed to the economic crisis in Europe, with a third of its EBITDA generated in Europe. During the summer, there were serious concerns about how Europe could get enough energy this winter. Europe has stockpiled coal and natural gas and created contingency plans. It’s still a concern we’re monitoring, but it’s hard to imagine Ardagh Meal Packing going out of power. In the long term, the aluminum can packaging industry is a rational oligopoly that will adjust supply to market demand. All four players – Ball Corporation, Crown Holdings, Ardagh Metal Packaging and CanPack – are poised to achieve high returns on invested capital. In the short term, the timing of input cost pass-through and challenges in the European market temporarily impacted cash flow. Ardagh Metal Packaging’s debt is fixed and maturing, with the earliest maturity in 2027. The business continues to generate a prodigious amount of cash flow, as all packaging businesses do through all cycles economic. Additionally, we now receive an 8.3% dividend, which we will reinvest in additional shares or other investment opportunities. »
Pixabay/Public Domain
Ardagh Metal Packaging SA (NYSE: AMBP) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 23 hedge fund portfolios held Ardagh Metal Packaging SA (NYSE: AMBP) at the end of the third quarter, compared to 25 in the previous quarter.
We discussed Ardagh Metal Packaging SA (NYSE: AMBP) in another article and reviewed Canyon Capital’s stock picks. In addition, please see our Q3 2022 Hedge Fund Investor Letters page for more letters to hedge fund investors and other leading investors.
Suggested items:
Disclosure: none. This article originally appeared on Insider Monkey.