Jane Street Group LLC Raises Stake in Ranpak Holdings Corp. (NYSE:PACK)

Jane Street Group LLC raised its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 93.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,763 shares of the company’s stock after purchasing an additional 41,030 shares during the quarter. Jane Street Group LLC’s holdings in Ranpak were worth $554,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Ranpak by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after purchasing an additional 1,464 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after buying an additional 3,087 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Ranpak by 1.8% in the third quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock worth $1,892,000 after buying an additional 5,254 shares in the last quarter. Quarry LP purchased a new position in shares of Ranpak in the third quarter worth $39,000. Finally, Quantbot Technologies LP purchased a new position in shares of Ranpak in the third quarter worth $42,000. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Price Performance

Ranpak stock opened at $6.94 on Monday. The company has a market cap of $577.80 million, a price-to-earnings ratio of -28.92 and a beta of 2.41. The firm’s fifty day moving average is $7.16 and its 200 day moving average is $6.84. 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 52-week low of $3.85 and a 52-week high of $9.04.

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

Analyst Ratings Changes

PACK has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Ranpak in a report on Thursday, December 19th. They issued an “overweight” rating and a $11.50 target price on the stock. Robert W. Baird lowered their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, November 1st.

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.