CenterBook Partners LP Purchases New Stake in Ranpak Holdings Corp $PACK

CenterBook Partners LP acquired a new position in shares of Ranpak Holdings Corp (NYSE:PACK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 796,548 shares of the company’s stock, valued at approximately $4,309,000. CenterBook Partners LP owned about 0.94% of Ranpak at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PACK. Empowered Funds LLC boosted its holdings in Ranpak by 4.2% during the 1st quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock worth $2,055,000 after acquiring an additional 15,184 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Ranpak by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock worth $3,872,000 after acquiring an additional 30,529 shares during the last quarter. XTX Topco Ltd purchased a new position in Ranpak during the 2nd quarter worth $108,000. Gamco Investors INC. ET AL boosted its holdings in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock worth $50,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Ranpak during the 2nd quarter worth $149,000. 85.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Craig Hallum cut their price objective on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Trading Up 0.8%

NYSE PACK opened at $6.85 on Tuesday. The stock has a market capitalization of $585.69 million, a price-to-earnings ratio of -15.56 and a beta of 3.14. Ranpak Holdings Corp has a one year low of $3.22 and a one year high of $7.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.73 and a quick ratio of 1.32. The business’s fifty day moving average is $5.16 and its 200-day moving average is $5.12.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $101.20 million for the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. Equities research analysts predict that Ranpak Holdings Corp will post -0.25 EPS for the current year.

Ranpak Company Profile

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.