CastleKnight Management LP Sells 100,000 Shares of Ranpak Holdings Corp $PACK

CastleKnight Management LP lessened its position in Ranpak Holdings Corp (NYSE:PACK) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 718,900 shares of the company’s stock after selling 100,000 shares during the quarter. CastleKnight Management LP’s holdings in Ranpak were worth $3,889,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PACK. Schusterman Interests LLC raised its holdings in Ranpak by 2,995.5% in the 3rd quarter. Schusterman Interests LLC now owns 3,018,616 shares of the company’s stock worth $16,965,000 after acquiring an additional 2,921,099 shares during the period. Millennium Management LLC raised its holdings in Ranpak by 8,737.4% in the 3rd quarter. Millennium Management LLC now owns 1,194,909 shares of the company’s stock worth $6,715,000 after acquiring an additional 1,181,388 shares during the period. Royce & Associates LP raised its holdings in Ranpak by 185.6% in the 4th quarter. Royce & Associates LP now owns 1,285,000 shares of the company’s stock worth $6,952,000 after acquiring an additional 835,000 shares during the period. CenterBook Partners LP bought a new position in Ranpak in the 4th quarter worth $4,309,000. Finally, Samjo Management LLC bought a new position in Ranpak in the 4th quarter worth $3,537,000. Institutional investors own 85.94% of the company’s stock.

Ranpak Stock Performance

NYSE:PACK opened at $7.21 on Thursday. The firm’s 50-day moving average is $5.67 and its 200-day moving average is $5.25. Ranpak Holdings Corp has a 52-week low of $3.22 and a 52-week high of $7.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. The company has a market cap of $616.74 million, a price-to-earnings ratio of -16.39 and a beta of 3.14.

Ranpak (NYSE:PACK) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.12) earnings per share (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 company had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. Equities research analysts anticipate that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Ranpak

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.