Amundi Lowers Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Amundi cut its stake in Ranpak Holdings Corp. (NYSE:PACK) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 717,386 shares of the company’s stock after selling 59,012 shares during the quarter. Amundi owned approximately 0.86% of Ranpak worth $4,649,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PACK. State Street Corp grew its position in shares of Ranpak by 15.2% during the 3rd quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after acquiring an additional 149,446 shares during the period. Geode Capital Management LLC boosted its position in Ranpak by 4.2% during the third quarter. Geode Capital Management LLC now owns 990,835 shares of the company’s stock worth $6,471,000 after purchasing an additional 40,049 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Ranpak by 3.3% in the fourth quarter. New York State Common Retirement Fund now owns 415,847 shares of the company’s stock valued at $2,861,000 after purchasing an additional 13,092 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Ranpak by 3.6% in the third quarter. Westfield Capital Management Co. LP now owns 384,518 shares of the company’s stock valued at $2,511,000 after buying an additional 13,320 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Ranpak by 18.5% during the 4th quarter. Empowered Funds LLC now owns 363,877 shares of the company’s stock worth $2,503,000 after buying an additional 56,908 shares during the period. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Price Performance

NYSE:PACK opened at $6.02 on Friday. The firm has a market cap of $501.04 million, a P/E ratio of -25.08 and a beta of 2.59. The stock has a 50 day moving average of $6.79 and a two-hundred day moving average of $6.78. Ranpak Holdings Corp. has a 12 month low of $5.54 and a 12 month high of $9.04. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald began coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target on the stock.

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.