Jane Street Group LLC Acquires 41,030 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Jane Street Group LLC lifted its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 93.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,763 shares of the company’s stock after purchasing an additional 41,030 shares during the period. Jane Street Group LLC owned about 0.10% of Ranpak worth $554,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PACK. Quarry LP bought a new stake in Ranpak in the 3rd quarter worth $39,000. Quantbot Technologies LP bought a new stake in Ranpak in the 3rd quarter worth $42,000. Glenmede Trust Co. NA bought a new stake in Ranpak in the 3rd quarter worth $67,000. Paloma Partners Management Co bought a new stake in Ranpak in the 3rd quarter worth $68,000. Finally, BNP Paribas Financial Markets grew its holdings in Ranpak by 27.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after acquiring an additional 3,087 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ranpak Trading Up 2.4 %

Shares of NYSE PACK opened at $6.94 on Monday. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The stock has a market cap of $577.80 million, a P/E ratio of -28.92 and a beta of 2.41. The firm has a 50-day moving average of $7.16 and a 200 day moving average of $6.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01.

Ranpak (NYSE:PACK) last issued 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 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%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share.

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.