Los Angeles Capital Management LLC raised its holdings in Ranpak Holdings Corp. (NYSE:PACK – Free Report) by 177.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,512 shares of the company’s stock after purchasing an additional 81,552 shares during the quarter. Los Angeles Capital Management LLC owned 0.15% of Ranpak worth $820,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Ranpak in the second quarter valued at $31,000. Legato Capital Management LLC purchased a new stake in Ranpak in the second quarter valued at $91,000. Price T Rowe Associates Inc. MD boosted its holdings in Ranpak by 8.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after purchasing an additional 2,191 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ranpak by 227.0% in the first quarter. BNP Paribas Financial Markets now owns 37,996 shares of the company’s stock valued at $299,000 after purchasing an additional 26,377 shares during the last quarter. Finally, Weil Company Inc. boosted its holdings in 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 purchasing an additional 21,245 shares during the last quarter. 85.94% of the stock is owned by hedge funds and other institutional investors.
Ranpak Trading Down 1.3 %
PACK stock opened at $6.23 on Friday. The company’s 50-day simple moving average is $7.05 and its 200-day simple moving average is $6.74. The company has a quick ratio of 2.07, a current ratio of 2.52 and a debt-to-equity ratio of 0.69. Ranpak Holdings Corp. has a 52-week low of $2.63 and a 52-week high of $9.04. The firm has a market cap of $517.05 million, a P/E ratio of -22.25 and a beta of 2.37.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on PACK shares. Baird R W lowered shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Craig Hallum reissued a “buy” rating and set a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th. Finally, Robert W. Baird lowered shares of Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Wednesday, August 14th.
View Our Latest Stock Analysis on PACK
About Ranpak
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.
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