Verition Fund Management LLC Purchases New Position in Ranpak Holdings Corp. (NYSE:PACK)

Verition Fund Management LLC acquired a new stake in Ranpak Holdings Corp. (NYSE:PACK) in the third quarter, according to its most recent filing with the SEC. The fund acquired 34,071 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Ranpak by 34.2% in the second 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. Meros Investment Management LP boosted its stake in Ranpak by 32.6% in the 2nd 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 during the period. Driehaus Capital Management LLC grew its holdings in Ranpak by 2.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 804,454 shares of the company’s stock valued at $5,173,000 after buying an additional 21,574 shares in the last quarter. Roubaix Capital LLC increased its position in shares of Ranpak by 7.0% during the third quarter. Roubaix Capital LLC now owns 641,429 shares of the company’s stock valued at $4,189,000 after buying an additional 41,872 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Ranpak by 3.6% in the third quarter. Westfield Capital Management Co. LP now owns 384,518 shares of the company’s stock worth $2,511,000 after buying an additional 13,320 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

Ranpak Price Performance

NYSE:PACK opened at $7.70 on Monday. The firm has a market capitalization of $641.08 million, a price-to-earnings ratio of -32.08 and a beta of 2.42. 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 stock has a fifty day moving average of $6.84 and a 200 day moving average of $6.72. Ranpak Holdings Corp. has a 52-week low of $3.85 and a 52-week high of $9.04.

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

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

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.