Monashee Investment Management LLC acquired a new position in Ranpak Holdings Corp. (NYSE:PACK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 45,000 shares of the company’s stock, valued at approximately $1,126,000.
A number of other large investors have also recently made changes to their positions in PACK. First Mercantile Trust Co. bought a new stake in Ranpak during the 2nd quarter valued at $28,000. Royal Bank of Canada boosted its position in Ranpak by 363.0% during the 1st quarter. Royal Bank of Canada now owns 1,903 shares of the company’s stock valued at $38,000 after acquiring an additional 1,492 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Ranpak by 36.4% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,517 shares of the company’s stock valued at $62,000 after acquiring an additional 672 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Ranpak by 93.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,375 shares of the company’s stock valued at $108,000 after acquiring an additional 2,592 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Ranpak during the 1st quarter valued at $156,000. 91.59% of the stock is currently owned by institutional investors.
Several analysts have issued reports on PACK shares. Robert W. Baird started coverage on Ranpak in a research report on Tuesday, August 10th. They set an “outperform” rating and a $30.00 target price on the stock. The Goldman Sachs Group started coverage on Ranpak in a research report on Tuesday, August 24th. They issued a “neutral” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $28.67.
Ranpak stock opened at $29.83 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.07 and a quick ratio of 2.68. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -213.06 and a beta of 1.01. Ranpak Holdings Corp. has a 1-year low of $8.41 and a 1-year high of $32.80. The business has a fifty day moving average price of $28.84 and a 200-day moving average price of $23.98.
Ranpak (NYSE:PACK) last issued its earnings results on Thursday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $90.00 million during the quarter. Ranpak had a negative return on equity of 1.84% and a negative net margin of 2.94%.
Ranpak Company Profile
Ranpak Holdings Corp.engages in the provision of product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. It also offers protective packaging solutions, such as Void-Fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects; Cushioning protective systems, which convert paper into cushioning pads; 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; Cold Chain, Box Lining, and Retail.
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