Two Sigma Advisers LP Decreases Stock Position in Ranpak Holdings Corp. (NYSE:PACK)

Two Sigma Advisers LP lessened its stake in shares of Ranpak Holdings Corp. (NYSE:PACK) by 27.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 96,400 shares of the company’s stock after selling 37,100 shares during the period. Two Sigma Advisers LP owned approximately 0.12% of Ranpak worth $663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in Ranpak in the 4th quarter valued at $83,000. Meros Investment Management LP grew its position in Ranpak by 1.8% in the 4th quarter. Meros Investment Management LP now owns 956,225 shares of the company’s stock valued at $6,579,000 after acquiring an additional 16,834 shares during the last quarter. Millennium Management LLC grew its position in Ranpak by 58.6% in the 4th quarter. Millennium Management LLC now owns 185,203 shares of the company’s stock valued at $1,274,000 after acquiring an additional 68,451 shares during the last quarter. Graham Capital Management L.P. grew its position in Ranpak by 42.1% in the 4th quarter. Graham Capital Management L.P. now owns 17,398 shares of the company’s stock valued at $120,000 after acquiring an additional 5,155 shares during the last quarter. Finally, G2 Investment Partners Management LLC grew its position in Ranpak by 28.7% in the 4th quarter. G2 Investment Partners Management LLC now owns 3,070,511 shares of the company’s stock valued at $21,125,000 after acquiring an additional 683,851 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Price Performance

PACK opened at $3.40 on Wednesday. Ranpak Holdings Corp. has a 12-month low of $2.91 and a 12-month high of $9.04. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $3.83 and its 200-day simple moving average is $5.86. The company has a market capitalization of $285.97 million, a price-to-earnings ratio of -14.15 and a beta of 2.79.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The company had revenue of $91.20 million for the quarter, compared to analysts’ expectations of $90.56 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts anticipate that Ranpak Holdings Corp. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on PACK shares. Cantor Fitzgerald cut their price objective on Ranpak from $11.50 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird cut their price objective on Ranpak from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th.

Ranpak Profile

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.