Bastion Asset Management Inc. Invests $3.20 Million in Ranpak Holdings Corp $PACK

Bastion Asset Management Inc. bought a new stake in Ranpak Holdings Corp (NYSE:PACK) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 578,949 shares of the company’s stock, valued at approximately $3,201,000. Ranpak comprises about 1.8% of Bastion Asset Management Inc.’s holdings, making the stock its 23rd biggest holding. Bastion Asset Management Inc. owned approximately 0.69% of Ranpak as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of PACK. G2 Investment Partners Management LLC boosted its holdings in Ranpak by 21.5% during the second quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock worth $16,638,000 after purchasing an additional 823,745 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Ranpak by 14.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 95,145 shares of the company’s stock worth $340,000 after buying an additional 11,798 shares in the last quarter. Formula Growth Ltd. lifted its position in Ranpak by 36.8% during the 2nd quarter. Formula Growth Ltd. now owns 320,933 shares of the company’s stock worth $1,146,000 after buying an additional 86,307 shares in the last quarter. Granite Investment Partners LLC acquired a new position in shares of Ranpak during the 2nd quarter worth about $105,000. Finally, Empowered Funds LLC grew its holdings in shares of Ranpak by 4.2% in the 1st quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock valued at $2,055,000 after acquiring an additional 15,184 shares in the last quarter. Institutional investors own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird set a $6.00 target price on Ranpak in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.50.

Ranpak Trading Up 0.8%

Shares of NYSE:PACK opened at $5.98 on Monday. Ranpak Holdings Corp has a 52-week low of $2.91 and a 52-week high of $7.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.42 and a current ratio of 1.88. The company has a market capitalization of $504.17 million, a P/E ratio of -13.58 and a beta of 2.83. The company has a 50-day simple moving average of $5.58 and a 200 day simple moving average of $5.17.

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.