Dynamic Technology Lab Private Ltd Purchases Shares of 28,351 Ranpak Holdings Corp. (NYSE:PACK)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Ranpak Holdings Corp. (NYSE:PACK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 28,351 shares of the company’s stock, valued at approximately $185,000.

Other hedge funds have also modified their holdings of the company. Meros Investment Management LP raised its position in Ranpak by 32.6% in the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Ranpak during the 2nd quarter valued at about $713,000. Los Angeles Capital Management LLC lifted its position in Ranpak by 177.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after acquiring an additional 81,552 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Ranpak by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after acquiring an additional 25,073 shares during the period. Finally, American Century Companies Inc. raised its stake 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 valued at $335,000 after purchasing an additional 18,731 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Price Performance

PACK opened at $7.90 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The company has a 50-day moving average of $6.52 and a 200-day moving average of $6.62. Ranpak Holdings Corp. has a 1-year low of $3.85 and a 1-year high of $9.04. The company has a market capitalization of $657.73 million, a P/E ratio of -33.13 and a beta of 2.37.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on PACK shares. Robert W. Baird cut their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Baird R W downgraded Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak 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.