CastleKnight Management LP Has $3.89 Million Stake in Ranpak Holdings Corp $PACK

CastleKnight Management LP decreased its stake in Ranpak Holdings Corp (NYSE:PACK) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 718,900 shares of the company’s stock after selling 100,000 shares during the quarter. CastleKnight Management LP owned approximately 0.85% of Ranpak worth $3,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PACK. Engineers Gate Manager LP purchased a new stake in Ranpak in the 2nd quarter worth approximately $49,000. Gamco Investors INC. ET AL lifted its position in Ranpak by 27.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after buying an additional 3,050 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Ranpak in the 4th quarter worth approximately $55,000. Quantbot Technologies LP purchased a new stake in Ranpak in the 3rd quarter worth approximately $58,000. Finally, The Manufacturers Life Insurance Company lifted its position in Ranpak by 20.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock worth $70,000 after buying an additional 3,364 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PACK shares. UBS Group reiterated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum cut their target price on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.83.

Ranpak Stock Down 3.4%

Ranpak stock opened at $7.21 on Thursday. The company has a market capitalization of $616.74 million, a P/E ratio of -16.39 and a beta of 3.14. The firm’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $5.25. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. Ranpak Holdings Corp has a 1-year low of $3.22 and a 1-year high of $7.81.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. Sell-side analysts forecast that Ranpak Holdings Corp will post -0.25 earnings per share for the current fiscal year.

Ranpak Company Profile

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.