Ranpak (NYSE:PACK) Shares Down 5.9%

Shares of Ranpak Holdings Corp. (NYSE:PACK) were down 5.9% during trading on Monday . The company traded as low as $6.03 and last traded at $6.05. Approximately 210,923 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 574,755 shares. The stock had previously closed at $6.43.

Analysts Set New Price Targets

PACK has been the topic of a number of research reports. Craig Hallum restated a “buy” rating and issued a $10.00 price target on shares of Ranpak in a research note on Thursday, June 20th. Robert W. Baird boosted their price target on Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd.

Ranpak Stock Performance

The business’s fifty day simple moving average is $6.46 and its 200-day simple moving average is $5.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.06 and a current ratio of 2.44. The firm has a market capitalization of $515.37 million, a PE ratio of -22.36 and a beta of 2.39.

Ranpak (NYSE:PACK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.97%. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $85.50 million. The company’s quarterly revenue was up 5.0% on a year-over-year basis.

Insider Activity at Ranpak

In related news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.41, for a total value of $100,156.25. Following the sale, the director now owns 214,859 shares in the company, valued at $1,377,246.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ranpak

Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in Ranpak by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock worth $231,000 after buying an additional 2,191 shares during the period. SG Americas Securities LLC raised its stake in shares of Ranpak by 38.2% during the fourth quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock valued at $158,000 after acquiring an additional 7,488 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after purchasing an additional 8,390 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Ranpak by 4.2% during the 4th quarter. Russell Investments Group Ltd. now owns 306,597 shares of the company’s stock worth $1,784,000 after purchasing an additional 12,490 shares during the period. Finally, M&T Bank Corp raised its position in Ranpak by 13.9% during the 4th quarter. M&T Bank Corp now owns 166,510 shares of the company’s stock valued at $970,000 after purchasing an additional 20,374 shares in the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Ranpak Company Profile

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.