AQR Capital Management LLC Purchases New Holdings in Ranpak Holdings Corp. (NYSE:PACK)

AQR Capital Management LLC purchased a new position in shares of Ranpak Holdings Corp. (NYSE:PACK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 183,227 shares of the company’s stock, valued at approximately $1,178,000. AQR Capital Management LLC owned approximately 0.22% of Ranpak at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caxton Associates LP acquired a new position in shares of Ranpak in the second quarter valued at approximately $158,000. Squarepoint Ops LLC boosted its stake in Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock worth $1,459,000 after acquiring an additional 134,910 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ranpak in the 2nd quarter valued at about $713,000. Gabelli Funds LLC acquired a new stake in Ranpak in the second quarter valued at approximately $129,000. Finally, Dimensional Fund Advisors LP increased its stake in Ranpak by 34.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after purchasing an additional 542,464 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Ranpak Price Performance

Ranpak stock opened at $6.20 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.07 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $6.69 and its 200 day simple moving average is $6.79. Ranpak Holdings Corp. has a 12 month low of $2.63 and a 12 month high of $9.04. The company has a market cap of $515.96 million, a price-to-earnings ratio of -34.44 and a beta of 2.36.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.13. The company had revenue of $86.40 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS.

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.