Bank of New York Mellon Corp Increases Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Bank of New York Mellon Corp raised its stake in Ranpak Holdings Corp. (NYSE:PACK) by 7.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 157,380 shares of the company’s stock after acquiring an additional 11,409 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ranpak were worth $1,012,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Ranpak by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after purchasing an additional 25,073 shares during the period. G2 Investment Partners Management LLC boosted its position in Ranpak by 102.5% in the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock valued at $10,846,000 after buying an additional 943,210 shares during the last quarter. Roubaix Capital LLC boosted its position in Ranpak by 188.8% in the 1st quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock valued at $5,624,000 after buying an additional 467,179 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Ranpak by 4.8% during the first quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after acquiring an additional 14,833 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Ranpak by 50.5% during the first quarter. Empowered Funds LLC now owns 270,545 shares of the company’s stock worth $2,129,000 after acquiring an additional 90,773 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Stock Performance

Shares of Ranpak stock opened at $6.37 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.07 and a current ratio of 2.52. Ranpak Holdings Corp. has a 1 year low of $2.63 and a 1 year high of $9.04. The firm’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $6.81. The firm has a market cap of $530.11 million, a PE ratio of -22.75 and a beta of 2.37.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.13. The firm had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $87.67 million. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. Ranpak’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share.

Analyst Ratings Changes

A number of research analysts recently commented on PACK shares. Robert W. Baird downgraded Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, August 14th. Craig Hallum reiterated a “buy” rating and set a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th. Finally, Baird R W downgraded shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

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.