Bank of New York Mellon Corp Sells 3,352 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Bank of New York Mellon Corp lowered its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 120,584 shares of the company’s stock after selling 3,352 shares during the period. Bank of New York Mellon Corp’s holdings in Ranpak were worth $830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new position in Ranpak during the third quarter valued at about $39,000. Quantbot Technologies LP bought a new position in shares of Ranpak in the 3rd quarter valued at approximately $42,000. Glenmede Trust Co. NA acquired a new stake in Ranpak in the 3rd quarter worth approximately $67,000. Paloma Partners Management Co acquired a new stake in Ranpak in the 3rd quarter worth approximately $68,000. Finally, BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 3,087 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.

Ranpak Price Performance

NYSE PACK opened at $5.65 on Wednesday. The stock has a 50-day simple moving average of $6.70 and a 200 day simple moving average of $6.73. Ranpak Holdings Corp. has a twelve month low of $5.38 and a twelve month high of $9.04. The stock has a market capitalization of $472.40 million, a PE ratio of -23.54 and a beta of 2.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald started coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price objective for the company.

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.