UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 13,767 Shares of Ranpak Holdings Corp. (NYSE:PACK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 22.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,154 shares of the company’s stock after purchasing an additional 13,767 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.09% of Ranpak worth $491,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PACK. The Manufacturers Life Insurance Company boosted its holdings in shares of Ranpak by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after acquiring an additional 1,464 shares during the last quarter. BNP Paribas Financial Markets increased its position in Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the last quarter. Innealta Capital LLC bought a new position in Ranpak in the second quarter valued at about $31,000. GSA Capital Partners LLP grew its stake in shares of Ranpak by 1.8% during the 3rd quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock valued at $1,892,000 after purchasing an additional 5,254 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Ranpak during the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Stock Performance

NYSE:PACK opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The company has a market cap of $593.62 million, a price-to-earnings ratio of -29.71 and a beta of 2.42. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The stock’s 50 day simple moving average is $6.98 and its two-hundred day simple moving average is $6.75.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (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 net margin of 5.64% and a negative return on equity of 3.54%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share.

Analyst Ratings Changes

Several research analysts have recently commented on PACK shares. Cantor Fitzgerald began coverage on Ranpak in a research note on Thursday. They issued an “overweight” rating and a $11.50 price objective on the stock. Robert W. Baird lowered their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report 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.