Ranpak Sees Unusually Large Options Volume (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 3,800 call options on the stock. This is an increase of 1,041% compared to the average daily volume of 333 call options.

Institutional Trading of Ranpak

Several institutional investors and hedge funds have recently made changes to their positions in PACK. JPMorgan Chase & Co. raised its stake in Ranpak by 185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company’s stock valued at $2,376,000 after purchasing an additional 236,398 shares during the last quarter. Barclays PLC raised its position in shares of Ranpak by 367.0% in the third quarter. Barclays PLC now owns 73,116 shares of the company’s stock valued at $478,000 after buying an additional 57,461 shares during the last quarter. State Street Corp raised its position in shares of Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock valued at $7,400,000 after buying an additional 149,446 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Ranpak during the third quarter valued at approximately $222,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Ranpak by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,154 shares of the company’s stock worth $491,000 after acquiring an additional 13,767 shares during the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Ranpak Price Performance

Shares of PACK stock traded down $0.10 during trading hours on Wednesday, hitting $5.11. The company’s stock had a trading volume of 162,869 shares, compared to its average volume of 667,280. Ranpak has a twelve month low of $5.02 and a twelve 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. The business has a fifty day moving average of $6.61 and a 200-day moving average of $6.70. The stock has a market cap of $426.83 million, a price-to-earnings ratio of -21.27 and a beta of 2.59.

Analysts Set New Price Targets

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

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.