Empowered Funds LLC Boosts Stock Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Empowered Funds LLC raised its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,969 shares of the company’s stock after purchasing an additional 15,544 shares during the quarter. Empowered Funds LLC owned 0.37% of Ranpak worth $2,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PACK. The Manufacturers Life Insurance Company boosted its position 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 worth $116,000 after purchasing an additional 1,464 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Ranpak by 8.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after acquiring an additional 2,191 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Ranpak in the 2nd quarter worth approximately $31,000. GSA Capital Partners LLP grew its holdings in shares of Ranpak by 1.8% in the 3rd 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 period. Finally, Bank of New York Mellon Corp increased its stake in Ranpak by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after purchasing an additional 11,409 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Stock Up 3.2 %

Shares of NYSE PACK opened at $7.07 on Thursday. The company has a market cap of $588.65 million, a P/E ratio of -29.46 and a beta of 2.37. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 12-month low of $3.76 and a 12-month high of $9.04. The stock has a fifty day moving average price of $6.33 and a 200 day moving average price of $6.58.

Ranpak (NYSE:PACK) last issued its quarterly 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). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm had revenue of $92.20 million during the quarter, compared to the consensus estimate of $90.76 million. During the same quarter last year, the firm posted ($0.03) earnings per share. Ranpak’s revenue was up 11.4% compared to the same quarter last year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PACK shares. Baird R W cut shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. 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.

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.