Royce & Associates LP grew its holdings in shares of Ranpak Holdings Corp (NYSE:PACK – Free Report) by 185.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,285,000 shares of the company’s stock after buying an additional 835,000 shares during the quarter. Royce & Associates LP’s holdings in Ranpak were worth $6,952,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in PACK. Engineers Gate Manager LP purchased a new stake in shares of Ranpak during the 2nd quarter valued at about $49,000. Gamco Investors INC. ET AL raised its position in shares of Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after buying an additional 3,050 shares in the last quarter. Ballast Inc. purchased a new stake in shares of Ranpak during the 3rd quarter valued at about $56,000. Quantbot Technologies LP purchased a new stake in shares of Ranpak during the 3rd quarter valued at about $58,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Ranpak by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after buying an additional 3,364 shares in the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on PACK shares. UBS Group restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum reduced their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.
Ranpak Stock Performance
Shares of NYSE:PACK opened at $7.00 on Friday. The firm has a market cap of $599.12 million, a PE ratio of -15.92 and a beta of 3.06. The firm’s 50 day simple moving average is $4.68 and its 200-day simple moving average is $5.02. Ranpak Holdings Corp has a one year low of $3.20 and a one year high of $7.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73.
Ranpak (NYSE:PACK – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. As a group, equities analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current year.
Ranpak Profile
Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.
Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.
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