Y Intercept Hong Kong Ltd Acquires 8,047 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Y Intercept Hong Kong Ltd grew its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 16.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,343 shares of the company’s stock after buying an additional 8,047 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.07% of Ranpak worth $368,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PACK. Bank of New York Mellon Corp increased its position in shares of Ranpak by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 157,380 shares of the company’s stock valued at $1,012,000 after acquiring an additional 11,409 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Ranpak during the 2nd quarter worth approximately $91,000. Innealta Capital LLC acquired a new stake in shares of Ranpak in the 2nd quarter valued at approximately $31,000. Weil Company Inc. grew its stake in shares of Ranpak by 117.7% in the second quarter. Weil Company Inc. now owns 39,299 shares of the company’s stock valued at $253,000 after buying an additional 21,245 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Ranpak by 177.4% during the second quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock worth $820,000 after buying an additional 81,552 shares during the last quarter. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

Ranpak Stock Performance

PACK opened at $7.89 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 12-month low of $3.85 and a 12-month high of $9.04. The business has a 50 day moving average of $6.88 and a 200-day moving average of $6.73. The stock has a market cap of $656.92 million, a price-to-earnings ratio of -32.88 and a beta of 2.42.

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

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.