State Street Corp Buys 149,446 Shares of Ranpak Holdings Corp. (NYSE:PACK)

State Street Corp increased its position in Ranpak Holdings Corp. (NYSE:PACK) by 15.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,133,277 shares of the company’s stock after purchasing an additional 149,446 shares during the period. State Street Corp owned approximately 1.36% of Ranpak worth $7,400,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PACK. Dimensional Fund Advisors LP lifted 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 buying an additional 542,464 shares in the last quarter. Meros Investment Management LP raised its holdings in Ranpak by 32.6% in the 2nd quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock worth $6,068,000 after acquiring an additional 231,779 shares during the last quarter. AQR Capital Management LLC bought a new position in Ranpak in the 2nd quarter valued at approximately $1,178,000. Squarepoint Ops LLC boosted its stake in Ranpak by 146.8% during the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after purchasing an additional 134,910 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Ranpak in the 2nd quarter worth $713,000. 85.94% of the stock is owned by hedge funds and other institutional investors.

Ranpak Price Performance

Shares of PACK opened at $6.95 on Friday. The firm has a market cap of $578.64 million, a PE ratio of -28.96 and a beta of 2.42. Ranpak Holdings Corp. has a 1-year low of $3.85 and a 1-year high of $9.04. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $7.07 and a two-hundred day simple moving average of $6.79.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS.

Analyst Ratings Changes

PACK has been the topic of a number of research analyst reports. Cantor Fitzgerald began coverage on Ranpak in a report on Thursday, December 19th. They set an “overweight” rating and a $11.50 price target on the stock. Robert W. Baird lowered their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st.

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.