MetLife Investment Management LLC Sells 10,686 Shares of Ranpak Holdings Corp. (NYSE:PACK)

MetLife Investment Management LLC decreased its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 39.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,561 shares of the company’s stock after selling 10,686 shares during the period. MetLife Investment Management LLC’s holdings in Ranpak were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Ranpak by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after purchasing an additional 1,464 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ranpak by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after buying an additional 2,191 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after acquiring an additional 3,087 shares in the last quarter. Innealta Capital LLC acquired a new stake in Ranpak in the second quarter worth about $31,000. Finally, GSA Capital Partners LLP grew its stake in shares of Ranpak by 1.8% during the third quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock worth $1,892,000 after acquiring an additional 5,254 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Ranpak Trading Up 2.3 %

Shares of NYSE:PACK opened at $8.00 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 52-week low of $3.85 and a 52-week high of $9.04. The stock has a market cap of $666.06 million, a price-to-earnings ratio of -32.58 and a beta of 2.42. The business has a 50-day moving average price of $6.67 and a 200-day moving average price of $6.66.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) 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 net margin of 5.64% and a negative return on equity of 3.54%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.

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.