Barclays PLC Buys 57,461 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Barclays PLC increased its stake in shares of Ranpak Holdings Corp. (NYSE:PACK) by 367.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 73,116 shares of the company’s stock after acquiring an additional 57,461 shares during the quarter. Barclays PLC’s holdings in Ranpak were worth $478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in Ranpak by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after buying an additional 1,464 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Ranpak by 27.6% during the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the period. GSA Capital Partners LLP boosted its holdings in Ranpak by 1.8% in the third quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock valued at $1,892,000 after acquiring an additional 5,254 shares during the last quarter. Quarry LP acquired a new stake in Ranpak in the third quarter worth about $39,000. Finally, Quantbot Technologies LP acquired a new stake in Ranpak in the third quarter worth about $42,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Price Performance

Shares of PACK opened at $6.78 on Friday. The stock has a market cap of $564.48 million, a P/E ratio of -28.25 and a beta of 2.42. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The stock’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $6.82. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The firm had revenue of $92.20 million for the quarter, compared to analyst estimates of $90.76 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PACK. Cantor Fitzgerald initiated coverage on shares of Ranpak in a research report on Thursday, December 19th. They set an “overweight” rating and a $11.50 target price on the stock. Robert W. Baird cut their price objective on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 1st.

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.