Ranpak Holdings Corp. (NYSE:PACK) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 56.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,033 shares of the company’s stock after purchasing an additional 18,731 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Ranpak worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. G2 Investment Partners Management LLC increased its holdings in shares of Ranpak by 102.5% in the fourth quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock valued at $10,846,000 after purchasing an additional 943,210 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Ranpak by 177.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after purchasing an additional 81,552 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Ranpak by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock valued at $2,530,000 after purchasing an additional 14,833 shares during the last quarter. Vanguard Group Inc. increased its position in Ranpak by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock valued at $18,362,000 after acquiring an additional 25,073 shares during the period. Finally, Innealta Capital LLC acquired a new position in Ranpak during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Analysts Set New Price Targets

PACK has been the topic of several research analyst reports. Baird R W lowered Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird lowered 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. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $10.00 target price on shares of Ranpak in a research note on Thursday, June 20th.

Ranpak Trading Down 3.5 %

Shares of Ranpak stock opened at $5.99 on Friday. Ranpak Holdings Corp. has a fifty-two week low of $2.63 and a fifty-two week high of $9.04. The firm has a market cap of $498.49 million, a PE ratio of -21.39 and a beta of 2.37. The business’s fifty day moving average is $6.86 and its two-hundred day moving average is $6.85. 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 (NYSE:PACK) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.13. Ranpak had a negative return on equity of 2.67% and a negative net margin of 4.41%. The business had revenue of $86.40 million during the quarter, compared to the consensus estimate of $87.67 million. During the same period in the prior year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.

Ranpak 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.