Rhumbline Advisers Reduces Holdings in Ranpak Holdings Corp $PACK

Rhumbline Advisers decreased its position in shares of Ranpak Holdings Corp (NYSE:PACK) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,628 shares of the company’s stock after selling 3,423 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Ranpak worth $367,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PACK. Coliseum Capital Management LLC purchased a new position in shares of Ranpak during the first quarter worth about $8,501,000. Roubaix Capital LLC grew its holdings in shares of Ranpak by 20.8% during the first quarter. Roubaix Capital LLC now owns 995,098 shares of the company’s stock worth $5,393,000 after purchasing an additional 171,093 shares during the last quarter. Resolute Capital Asset Partners LLC purchased a new position in shares of Ranpak during the first quarter worth about $867,000. Nuveen LLC purchased a new position in shares of Ranpak during the first quarter worth about $836,000. Finally, Deutsche Bank AG grew its holdings in shares of Ranpak by 369.5% during the first quarter. Deutsche Bank AG now owns 192,549 shares of the company’s stock worth $1,044,000 after buying an additional 151,534 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Price Performance

PACK stock opened at $5.19 on Thursday. The firm has a 50 day moving average of $4.48 and a 200-day moving average of $4.20. Ranpak Holdings Corp has a 12-month low of $2.91 and a 12-month high of $8.70. The company has a current ratio of 1.74, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74. The company has a market cap of $437.41 million, a price-to-earnings ratio of -12.35 and a beta of 2.76.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Ranpak had a negative net margin of 9.06% and a negative return on equity of 6.29%. The company had revenue of $77.80 million for the quarter, compared to analyst estimates of $94.45 million. Ranpak has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Ranpak Holdings Corp will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PACK has been the topic of a number of research reports. Craig Hallum raised their price target on Ranpak from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Cantor Fitzgerald raised their price objective on shares of Ranpak from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Ranpak presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.17.

Ranpak Company 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.