Bank of New York Mellon Corp Increases Stock Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Bank of New York Mellon Corp increased its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,380 shares of the company’s stock after buying an additional 11,409 shares during the period. Bank of New York Mellon Corp owned about 0.19% of Ranpak worth $1,012,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PACK. G2 Investment Partners Management LLC increased its position in Ranpak by 102.5% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after buying an additional 943,210 shares in the last quarter. Roubaix Capital LLC boosted its stake in shares of Ranpak by 188.8% during the first quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock valued at $5,624,000 after acquiring an additional 467,179 shares during the last quarter. Empowered Funds LLC raised its stake in Ranpak by 50.5% in the 1st quarter. Empowered Funds LLC now owns 270,545 shares of the company’s stock valued at $2,129,000 after purchasing an additional 90,773 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Ranpak in the 1st quarter valued at about $362,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Ranpak by 227.0% during the 1st quarter. BNP Paribas Financial Markets now owns 37,996 shares of the company’s stock worth $299,000 after purchasing an additional 26,377 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Stock Down 1.8 %

PACK opened at $6.37 on Friday. Ranpak Holdings Corp. has a 12 month low of $2.63 and a 12 month high of $9.04. The business has a 50-day moving average of $7.04 and a two-hundred day moving average of $6.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.52 and a quick ratio of 2.07. The stock has a market capitalization of $530.11 million, a price-to-earnings ratio of -22.75 and a beta of 2.37.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The company had revenue of $86.40 million for the quarter, compared to the consensus estimate of $87.67 million. During the same quarter last year, the firm posted ($0.03) earnings per share. Ranpak’s revenue was up 5.5% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Baird R W downgraded shares of Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th. Finally, Robert W. Baird downgraded Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, August 14th.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. The company offers protective packaging solutions, such as void-fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects under the FillPak brand; cushioning protective systems, which convert paper into cushioning pads under the PadPak brand; and wrapping protective systems that create pads or paper mesh to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various objects under the WrapPak, Geami, and ReadyRoll brands, as well as cold chain products, which are used to provide insulation for goods.