Royce & Associates LP Buys 835,000 Shares of Ranpak Holdings Corp $PACK

Royce & Associates LP boosted its stake in Ranpak Holdings Corp (NYSE:PACK) by 185.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,285,000 shares of the company’s stock after purchasing an additional 835,000 shares during the period. Royce & Associates LP owned approximately 1.52% of Ranpak worth $6,952,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ballast Inc. bought a new stake in Ranpak in the 3rd quarter worth approximately $56,000. Quantbot Technologies LP bought a new stake in shares of Ranpak during the 3rd quarter valued at $58,000. Engineers Gate Manager LP bought a new stake in shares of Ranpak during the 2nd quarter valued at $49,000. Gamco Investors INC. ET AL bought a new stake in shares of Ranpak during the 4th quarter valued at $76,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Ranpak by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after acquiring an additional 3,364 shares during the period. Institutional investors own 85.94% of the company’s stock.

Ranpak Trading Up 1.4%

Shares of PACK stock opened at $7.00 on Friday. The stock has a market capitalization of $599.12 million, a price-to-earnings ratio of -15.92 and a beta of 3.06. The stock’s 50-day moving average price is $4.68 and its 200-day moving average price is $5.02. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. Ranpak Holdings Corp has a 12-month low of $3.20 and a 12-month high of $7.16.

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

Analyst Upgrades and Downgrades

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