Ranpak Holdings Corp. (NYSE:PACK) Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Ranpak Holdings Corp. (NYSE:PACK) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,584 shares of the company’s stock after selling 3,352 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of Ranpak worth $830,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Ranpak by 185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock worth $2,376,000 after purchasing an additional 236,398 shares during the period. Barclays PLC lifted its holdings in shares of Ranpak by 367.0% in the third quarter. Barclays PLC now owns 73,116 shares of the company’s stock valued at $478,000 after purchasing an additional 57,461 shares in the last quarter. State Street Corp boosted its position in shares of Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after buying an additional 149,446 shares during the period. Verition Fund Management LLC purchased a new position in shares of Ranpak during the third quarter valued at $222,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ranpak by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,154 shares of the company’s stock valued at $491,000 after buying an additional 13,767 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

Ranpak Trading Down 2.9 %

NYSE PACK opened at $5.65 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 1-year low of $5.38 and a 1-year high of $9.04. The firm’s fifty day simple moving average is $6.70 and its 200-day simple moving average is $6.73. The company has a market capitalization of $472.40 million, a PE ratio of -23.54 and a beta of 2.59.

Analysts Set New Price Targets

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

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.