Ranpak Holdings Corp. (NYSE:PACK) Position Decreased by Marshall Wace LLP

Marshall Wace LLP reduced its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 40.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,248 shares of the company’s stock after selling 174,052 shares during the quarter. Marshall Wace LLP owned 0.30% of Ranpak worth $1,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in Ranpak by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after buying an additional 2,191 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Ranpak in the 2nd quarter worth $31,000. Bank of New York Mellon Corp raised its position in shares of Ranpak by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock worth $1,012,000 after purchasing an additional 11,409 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Ranpak during the second quarter valued at $91,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Ranpak by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after purchasing an additional 14,833 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on PACK shares. Robert W. Baird downgraded Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Wednesday, August 14th. Craig Hallum restated a “buy” rating and set a $10.00 price target on shares of Ranpak in a report on Thursday, June 20th. Finally, Baird R W lowered shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Ranpak Stock Up 1.3 %

NYSE:PACK opened at $6.07 on Friday. The business’s fifty day moving average price is $6.83 and its 200 day moving average price is $6.84. The firm has a market capitalization of $503.77 million, a price-to-earnings ratio of -21.68 and a beta of 2.36. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69. Ranpak Holdings Corp. has a 1-year low of $2.63 and a 1-year high of $9.04.

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

About Ranpak

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.