Tudor Investment Corp ET AL Trims Stake in Ranpak Holdings Corp $PACK

Tudor Investment Corp ET AL lowered its position in Ranpak Holdings Corp (NYSE:PACK) by 87.2% in the 3rd quarter, Holdings Channel reports. The fund owned 21,942 shares of the company’s stock after selling 150,106 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Ranpak were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royce & Associates LP purchased a new stake in Ranpak in the third quarter worth $2,529,000. Bastion Asset Management Inc. purchased a new position in Ranpak during the third quarter valued at $3,201,000. G2 Investment Partners Management LLC lifted its position in Ranpak by 21.5% during the second quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock valued at $16,638,000 after buying an additional 823,745 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Ranpak during the 3rd quarter valued at $1,027,000. Finally, Divisadero Street Capital Management LP grew its position in shares of Ranpak by 150.0% in the 3rd quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock worth $1,405,000 after buying an additional 150,000 shares during the period. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group reissued an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a research report on Thursday, January 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Finally, Craig Hallum lowered their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ranpak presently has a consensus rating of “Hold” and a consensus target price of $6.83.

Ranpak Stock Down 1.0%

NYSE:PACK opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.83. The firm has a market cap of $303.72 million, a P/E ratio of -7.97 and a beta of 2.88. Ranpak Holdings Corp has a fifty-two week low of $2.91 and a fifty-two week high of $6.31. The firm has a 50-day simple moving average of $4.66 and a two-hundred day simple moving average of $5.09.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Ranpak had a negative net margin of 9.70% and a negative return on equity of 7.11%. The business had revenue of $111.90 million during the quarter, compared to the consensus estimate of $112.82 million. Analysts predict that Ranpak Holdings Corp will post -0.2 earnings per share for the current fiscal year.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.