Ranpak Holdings Corp $PACK Stake Increased by CenterBook Partners LP

CenterBook Partners LP boosted its holdings in shares of Ranpak Holdings Corp (NYSE:PACK) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,307,714 shares of the company’s stock after purchasing an additional 431,869 shares during the quarter. CenterBook Partners LP owned about 1.52% of Ranpak worth $5,427,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PACK. Vise Technologies Inc. raised its position in shares of Ranpak by 61.5% during the third quarter. Vise Technologies Inc. now owns 22,080 shares of the company’s stock valued at $92,000 after buying an additional 8,407 shares during the last quarter. Abel Hall LLC bought a new position in shares of Ranpak during the third quarter worth $58,000. Sequoia Financial Advisors LLC purchased a new position in Ranpak during the second quarter valued at $116,000. Squarepoint Ops LLC purchased a new position in Ranpak during the second quarter valued at $585,000. Finally, JS Capital Management LLC purchased a new position in Ranpak during the second quarter valued at $223,180,857. 85.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PACK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a report on Thursday, October 15th. Craig Hallum downgraded shares of Ranpak from a “buy” rating to a “hold” rating and set a $3.50 price objective for the company. in a report on Friday, October 30th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.50.

Ranpak Price Performance

Shares of PACK stock traded up $0.29 on Friday, reaching $3.63. The company’s stock had a trading volume of 763,028 shares, compared to its average volume of 727,940. The stock’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $5.07. Ranpak Holdings Corp has a 1 year low of $2.96 and a 1 year high of $7.81. The company has a market capitalization of $311.74 million, a price-to-earnings ratio of -9.09 and a beta of 3.11. The company has a current ratio of 1.79, a quick ratio of 1.39 and a debt-to-equity ratio of 0.78.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, October 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Ranpak had a negative net margin of 8.28% and a negative return on equity of 6.65%. The business had revenue of $101.90 million for the quarter, compared to analysts’ expectations of $108.85 million. Analysts forecast that Ranpak Holdings Corp will post -0.35 earnings per share for the current fiscal year.

Ranpak Profile

Ranpak Holdings Corp. (NYSE: PACK) develops and manufactures sustainable, paper-based packaging solutions designed to protect products during shipping and handling. Its offerings serve e-commerce, retail, industrial, food, and other applications where cushioning, void fill, wrapping, and product protection are required.

The company’s product portfolio includes paper cushioning and void-fill materials, protective wrapping systems, and packaging automation equipment. Ranpak also provides dispensing systems and related packaging solutions that help customers streamline fulfillment operations while reducing reliance on plastic-based protective packaging.

Founded in 1972, Ranpak serves customers through a global network of manufacturing, distribution, and sales operations across North America, Europe, and other international markets.