First Eagle Investment Management LLC Increases Stake in Ranpak Holdings Corp $PACK

First Eagle Investment Management LLC grew its stake in Ranpak Holdings Corp (NYSE:PACK) by 113.4% during the 4th quarter, HoldingsChannel reports. The firm owned 390,010 shares of the company’s stock after buying an additional 207,224 shares during the quarter. First Eagle Investment Management LLC’s holdings in Ranpak were worth $2,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Schusterman Interests LLC lifted its stake in shares of Ranpak by 2,995.5% in the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock valued at $16,965,000 after purchasing an additional 2,921,099 shares during the period. Vanguard Group Inc. grew its position in Ranpak by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,652,198 shares of the company’s stock valued at $14,905,000 after buying an additional 13,362 shares during the period. Millennium Management LLC grew its position in Ranpak by 8,737.4% during the third quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock valued at $6,715,000 after buying an additional 1,181,388 shares during the period. Geode Capital Management LLC increased its holdings in Ranpak by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock valued at $3,872,000 after buying an additional 30,529 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in Ranpak by 21.1% in the second quarter. Boothbay Fund Management LLC now owns 909,251 shares of the company’s stock valued at $3,246,000 after buying an additional 158,496 shares in the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PACK. Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a research note on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Wall Street Zen upgraded Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Craig Hallum dropped their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, UBS Group restated an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Stock Performance

NYSE PACK opened at $6.30 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $4.18 and its 200-day simple moving average is $4.95. The company has a market cap of $538.47 million, a PE ratio of -14.31 and a beta of 3.06. Ranpak Holdings Corp has a 1-year low of $3.20 and a 1-year high of $6.67.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%.The firm had revenue of $101.20 million for the quarter, compared to analysts’ expectations of $91.59 million. As a group, equities research analysts anticipate that Ranpak Holdings Corp will post -0.25 EPS for the current fiscal year.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.