Formula Growth Ltd. Has $1.52 Million Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Formula Growth Ltd. cut its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 220,471 shares of the company’s stock after selling 6,150 shares during the period. Formula Growth Ltd. owned approximately 0.26% of Ranpak worth $1,517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PACK. SG Americas Securities LLC boosted its stake in shares of Ranpak by 16.9% during the 4th quarter. SG Americas Securities LLC now owns 19,059 shares of the company’s stock worth $131,000 after acquiring an additional 2,758 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Ranpak by 15.6% in the 3rd quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock worth $183,000 after purchasing an additional 3,909 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Ranpak by 13.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 40,510 shares of the company’s stock worth $279,000 after purchasing an additional 4,953 shares during the period. Russell Investments Group Ltd. grew its holdings in Ranpak by 1.6% during the fourth quarter. Russell Investments Group Ltd. now owns 343,977 shares of the company’s stock valued at $2,367,000 after purchasing an additional 5,283 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Ranpak in the fourth quarter worth $42,000. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Stock Performance

NYSE:PACK opened at $3.49 on Friday. The firm has a market capitalization of $291.38 million, a PE ratio of -14.52 and a beta of 2.70. Ranpak Holdings Corp. has a 1 year low of $3.42 and a 1 year 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 firm’s fifty day simple moving average is $5.65 and its 200 day simple moving average is $6.44.

Ranpak 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.