Algert Global LLC Makes New $550,000 Investment in Ranpak Holdings Corp. (NYSE:PACK)

Algert Global LLC purchased a new stake in shares of Ranpak Holdings Corp. (NYSE:PACK) in the third quarter, HoldingsChannel.com reports. The fund purchased 84,264 shares of the company’s stock, valued at approximately $550,000.

Several other institutional investors have also modified their holdings of PACK. Dimensional Fund Advisors LP grew its stake in Ranpak by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after acquiring an additional 542,464 shares during the last quarter. Meros Investment Management LP grew its position in shares of Ranpak by 32.6% in the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Ranpak during the 2nd quarter worth approximately $1,178,000. Squarepoint Ops LLC raised its position in shares of Ranpak by 146.8% during the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock worth $1,459,000 after purchasing an additional 134,910 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Ranpak during the 2nd quarter worth approximately $713,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Stock Down 0.8 %

Shares of NYSE PACK opened at $7.79 on Friday. The firm has a market cap of $648.60 million, a P/E ratio of -32.46 and a beta of 2.37. 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 Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The firm’s 50 day moving average price is $6.52 and its 200 day moving average price is $6.62.

Ranpak (NYSE:PACK) last posted its quarterly earnings data 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). The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. Ranpak’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PACK. Robert W. Baird lowered their target price on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Baird R W cut 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.