Ranpak Holdings Corp $PACK Stock Holdings Boosted by CenterBook Partners LP

CenterBook Partners LP lifted its stake in Ranpak Holdings Corp (NYSE:PACK) by 49.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,307,714 shares of the company’s stock after buying an additional 431,869 shares during the period. CenterBook Partners LP’s holdings in Ranpak were worth $5,427,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PACK. JS Capital Management LLC purchased a new stake in Ranpak during the 2nd quarter valued at $223,180,857. Dimensional Fund Advisors LP boosted its stake in Ranpak by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,045,306 shares of the company’s stock worth $10,871,000 after buying an additional 102,942 shares during the period. Bank of New York Mellon Corp purchased a new position in Ranpak during the second quarter worth $1,045,000. Sei Investments Co. boosted its stake in Ranpak by 538.5% during the first quarter. Sei Investments Co. now owns 120,751 shares of the company’s stock worth $431,000 after buying an additional 101,840 shares during the period. Finally, Gabelli Funds LLC increased its position in Ranpak by 6.3% during the first quarter. Gabelli Funds LLC now owns 101,485 shares of the company’s stock valued at $362,000 after acquiring an additional 5,985 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PACK. Craig Hallum downgraded shares of Ranpak from a “buy” rating to a “hold” rating and set a $3.50 target price on the stock. in a research note on Friday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Ranpak Trading Up 8.8%

Shares of PACK traded up $0.29 during mid-day trading on Friday, reaching $3.63. 763,028 shares of the company’s stock traded hands, compared to its average volume of 727,940. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.39. The stock’s 50-day moving average is $3.88 and its two-hundred day moving average is $5.07. Ranpak Holdings Corp has a 12 month low of $2.96 and a 12 month high of $7.81. The stock has a market cap of $311.74 million, a P/E ratio of -9.09 and a beta of 3.11.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $101.90 million for the quarter, compared to the consensus estimate of $108.85 million. Ranpak had a negative return on equity of 6.65% and a negative net margin of 8.28%. Research analysts forecast that Ranpak Holdings Corp will post -0.35 earnings per share for the current fiscal year.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) develops and manufactures sustainable, paper-based packaging solutions designed to protect products during shipping and handling. Its offerings serve e-commerce, retail, industrial, food, and other applications where cushioning, void fill, wrapping, and product protection are required.

The company’s product portfolio includes paper cushioning and void-fill materials, protective wrapping systems, and packaging automation equipment. Ranpak also provides dispensing systems and related packaging solutions that help customers streamline fulfillment operations while reducing reliance on plastic-based protective packaging.

Founded in 1972, Ranpak serves customers through a global network of manufacturing, distribution, and sales operations across North America, Europe, and other international markets.