Los Angeles Capital Management LLC Raises Holdings in Ranpak Holdings Corp $PACK

Los Angeles Capital Management LLC boosted its position in Ranpak Holdings Corp (NYSE:PACK) by 14.2% in the 2nd quarter, Holdings Channel reports. The firm owned 95,145 shares of the company’s stock after acquiring an additional 11,798 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ranpak were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Ranpak by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 124,315 shares of the company’s stock worth $674,000 after buying an additional 3,731 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Ranpak during the first quarter worth about $128,000. Westfield Capital Management Co. LP grew its stake in Ranpak by 5.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 407,328 shares of the company’s stock valued at $2,208,000 after acquiring an additional 22,810 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Ranpak by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 363,771 shares of the company’s stock valued at $1,972,000 after acquiring an additional 11,425 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Ranpak by 369.5% in the 1st quarter. Deutsche Bank AG now owns 192,549 shares of the company’s stock worth $1,044,000 after purchasing an additional 151,534 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PACK. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a report on Wednesday, October 8th. Cantor Fitzgerald boosted their price objective on Ranpak from $6.00 to $6.50 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Craig Hallum upped their target price on Ranpak from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Robert W. Baird set a $6.00 target price on Ranpak in a research note on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ranpak has a consensus rating of “Hold” and a consensus target price of $7.50.

Ranpak Trading Down 6.5%

PACK opened at $4.85 on Monday. The stock has a market capitalization of $408.82 million, a PE ratio of -11.01 and a beta of 2.83. Ranpak Holdings Corp has a one year low of $2.91 and a one year high of $8.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.42 and a current ratio of 1.88. The business’s 50 day moving average price is $5.23 and its 200 day moving average price is $4.35.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.09). Ranpak had a negative return on equity of 6.79% and a negative net margin of 9.48%.The business had revenue of $99.60 million for the quarter, compared to analyst estimates of $99.94 million. As a group, equities research analysts expect that Ranpak Holdings Corp will post -0.2 EPS for the current year.

About Ranpak

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.