Barclays PLC Buys 57,461 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Barclays PLC increased its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 367.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,116 shares of the company’s stock after buying an additional 57,461 shares during the quarter. Barclays PLC owned 0.09% of Ranpak worth $478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Ranpak during the third quarter valued at approximately $39,000. Quantbot Technologies LP bought a new stake in Ranpak in the 3rd quarter valued at $42,000. Glenmede Trust Co. NA bought a new stake in Ranpak in the 3rd quarter valued at $67,000. Paloma Partners Management Co bought a new position in shares of Ranpak during the 3rd quarter worth about $68,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Ranpak by 27.6% during the 3rd 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 in the last quarter. 85.94% of the stock is currently owned by institutional investors.

Ranpak Trading Down 1.5 %

Shares of PACK stock opened at $6.78 on Friday. The company has a market capitalization of $564.48 million, a P/E ratio of -28.25 and a beta of 2.42. Ranpak Holdings Corp. has a 12-month low of $3.85 and a 12-month high of $9.04. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $7.12 and a 200 day moving average price of $6.82.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $92.20 million during 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%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PACK shares. Robert W. Baird dropped their price target on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price for the company.

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.