JPMorgan Chase & Co. Acquires 236,398 Shares of Ranpak Holdings Corp. (NYSE:PACK)

JPMorgan Chase & Co. raised its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 185.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363,815 shares of the company’s stock after acquiring an additional 236,398 shares during the quarter. JPMorgan Chase & Co. owned about 0.44% of Ranpak worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in Ranpak during the 3rd quarter valued at $39,000. Quantbot Technologies LP bought a new position in shares of Ranpak in the third quarter worth $42,000. Glenmede Trust Co. NA bought a new position in shares of Ranpak in the third quarter worth $67,000. Paloma Partners Management Co bought a new position in shares of Ranpak in the third quarter worth $68,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after purchasing an additional 3,087 shares during the period. Institutional investors own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PACK. Cantor Fitzgerald began coverage on shares of Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target on the stock. Robert W. Baird decreased 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.

Ranpak Stock Up 1.7 %

Shares of NYSE:PACK opened at $6.48 on Wednesday. Ranpak Holdings Corp. has a 52-week low of $3.85 and a 52-week high of $9.04. The firm has a fifty day moving average of $7.16 and a 200 day moving average of $6.85. The firm has a market capitalization of $539.34 million, a PE ratio of -26.99 and a beta of 2.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36.

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). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts anticipate that Ranpak Holdings Corp. will post -0.2 EPS for the current fiscal year.

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.