Ranpak Holdings Corp $PACK Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its holdings in shares of Ranpak Holdings Corp (NYSE:PACK) by 24.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,181,616 shares of the company’s stock after selling 704,260 shares during the quarter. ArrowMark Colorado Holdings LLC owned 2.59% of Ranpak worth $12,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Engineers Gate Manager LP bought a new stake in shares of Ranpak during the 2nd quarter valued at about $49,000. Gamco Investors INC. ET AL raised its stake in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,050 shares in the last quarter. Ballast Inc. acquired a new stake in Ranpak in the third quarter worth about $56,000. Quantbot Technologies LP bought a new position in shares of Ranpak in the third quarter valued at approximately $58,000. Finally, The Manufacturers Life Insurance Company boosted its stake in 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 purchasing an additional 3,364 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

Ranpak Stock Up 6.0%

Shares of NYSE:PACK opened at $3.44 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.83. The company has a market capitalization of $291.01 million, a PE ratio of -7.63 and a beta of 2.82. Ranpak Holdings Corp has a 52 week low of $2.91 and a 52 week high of $6.31. The company’s fifty day moving average is $5.28 and its 200-day moving average is $5.24.

Ranpak (NYSE:PACK) last announced its earnings results on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The business had revenue of $111.90 million for the quarter, compared to the consensus estimate of $112.82 million. Ranpak had a negative return on equity of 7.11% and a negative net margin of 9.70%. Equities research analysts predict that Ranpak Holdings Corp will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PACK shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Craig Hallum lowered their price target on Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ranpak in a research note on Thursday, January 22nd. Finally, UBS Group reiterated an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Three 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.