Glenmede Trust Co. NA Invests $67,000 in Ranpak Holdings Corp. (NYSE:PACK)

Glenmede Trust Co. NA acquired a new position in shares of Ranpak Holdings Corp. (NYSE:PACK) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,254 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after purchasing an additional 3,087 shares during the period. Quantbot Technologies LP acquired a new stake in Ranpak during the third quarter worth approximately $42,000. Dynamic Technology Lab Private Ltd acquired a new stake in Ranpak during the third quarter worth approximately $185,000. Westfield Capital Management Co. LP grew its stake in Ranpak by 3.6% during the third quarter. Westfield Capital Management Co. LP now owns 384,518 shares of the company’s stock worth $2,511,000 after purchasing an additional 13,320 shares during the period. Finally, Algert Global LLC acquired a new stake in Ranpak during the third quarter worth approximately $550,000. 85.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PACK has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Ranpak Trading Up 1.3 %

Shares of Ranpak stock opened at $7.82 on Friday. 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 52 week low of $3.85 and a 52 week high of $9.04. The stock has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $6.65. The stock has a market capitalization of $651.09 million, a PE ratio of -32.17 and a beta of 2.42.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) EPS 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 analyst estimates of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business posted ($0.03) EPS.

About Ranpak

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.