Geode Capital Management LLC Boosts Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Geode Capital Management LLC increased its position in Ranpak Holdings Corp. (NYSE:PACK) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 990,835 shares of the company’s stock after purchasing an additional 40,049 shares during the period. Geode Capital Management LLC owned approximately 1.19% of Ranpak worth $6,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Ranpak by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after buying an additional 11,409 shares during the last quarter. Weil Company Inc. boosted its stake in Ranpak by 117.7% during the 2nd quarter. Weil Company Inc. now owns 39,299 shares of the company’s stock valued at $253,000 after purchasing an additional 21,245 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Ranpak by 177.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after purchasing an additional 81,552 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Ranpak by 56.2% in the 2nd quarter. American Century Companies Inc. now owns 52,033 shares of the company’s stock worth $335,000 after purchasing an additional 18,731 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 worth $13,694,000 after purchasing an additional 542,464 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PACK has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on 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 assumed coverage on shares of Ranpak in a report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price objective for the company.

Ranpak Stock Performance

Shares of PACK opened at $6.94 on Friday. The business has a 50-day simple moving average of $7.16 and a two-hundred day simple moving average of $6.83. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 52 week low of $3.85 and a 52 week high of $9.04. The stock has a market cap of $577.80 million, a price-to-earnings ratio of -28.92 and a beta of 2.42.

Ranpak (NYSE:PACK) last issued its quarterly 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). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis.

About Ranpak

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.