Franklin Resources Inc. Grows Stake in Ranpak Holdings Corp. (NYSE:PACK)

Franklin Resources Inc. raised its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,900 shares of the company’s stock after purchasing an additional 3,909 shares during the period. Franklin Resources Inc.’s holdings in Ranpak were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PACK. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 542,464 shares in the last quarter. Meros Investment Management LP increased its position in Ranpak by 32.6% during the 2nd 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. AQR Capital Management LLC bought a new stake in shares of Ranpak in the 2nd quarter valued at about $1,178,000. State Street Corp lifted its position in shares of Ranpak by 15.2% in the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after purchasing an additional 149,446 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Ranpak by 146.8% during the second quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

Ranpak Stock Down 1.5 %

Shares of Ranpak stock opened at $6.78 on Friday. Ranpak Holdings Corp. has a 52-week low of $3.85 and a 52-week high of $9.04. The firm’s 50 day moving average price is $7.12 and its 200-day moving average price is $6.82. 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 company has a market cap of $564.48 million, a P/E ratio of -28.25 and a beta of 2.42.

Ranpak (NYSE:PACK) last released its quarterly 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 firm had revenue of $92.20 million during 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%. Ranpak’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PACK shares. Cantor Fitzgerald started coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company. Robert W. Baird reduced their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research 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.