PNC Financial Services Group Inc. Has $279,000 Holdings in Ranpak Holdings Corp. (NYSE:PACK)

PNC Financial Services Group Inc. raised its stake in Ranpak Holdings Corp. (NYSE:PACK) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,510 shares of the company’s stock after acquiring an additional 4,953 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ranpak were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $42,000. Glenmede Trust Co. NA acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $67,000. Paloma Partners Management Co acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $68,000. Finally, BNP Paribas Financial Markets grew 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 worth $93,000 after buying an additional 3,087 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald began coverage on shares of Ranpak in a research report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price target for the company.

Ranpak Stock Down 0.4 %

Ranpak stock opened at $5.68 on Friday. The company’s 50 day simple moving average is $6.72 and its 200 day simple moving average is $6.74. Ranpak Holdings Corp. has a fifty-two week low of $5.38 and a fifty-two week high of $9.04. The firm has a market capitalization of $472.48 million, a price-to-earnings ratio of -23.65 and a beta of 2.59. 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 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.