Ranpak Holdings Corp. (NYSE:PACK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 2.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 145,310 shares of the company’s stock after selling 3,483 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Ranpak worth $949,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Meros Investment Management LP lifted its position in shares of Ranpak by 32.6% during the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after purchasing an additional 231,779 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ranpak during the second quarter worth about $713,000. Los Angeles Capital Management LLC lifted its position in shares of Ranpak by 177.4% during the second quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after purchasing an additional 81,552 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ranpak by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after purchasing an additional 25,073 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Ranpak by 56.2% during the second quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock worth $335,000 after purchasing an additional 18,731 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PACK. Baird R W lowered shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird cut their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

Ranpak Stock Down 0.1 %

PACK stock opened at $7.85 on Thursday. The company’s 50 day moving average price is $6.46 and its 200 day moving average price is $6.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. Ranpak Holdings Corp. has a fifty-two week low of $3.85 and a fifty-two week high of $9.04. The firm has a market capitalization of $653.57 million, a price-to-earnings ratio of -32.71 and a beta of 2.37.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share.

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.