Ranpak (NYSE:PACK) Shares Down 6.1%

Ranpak Holdings Corp. (NYSE:PACK) fell 6.1% on Monday . The company traded as low as $6.92 and last traded at $6.93. 371,278 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 538,226 shares. The stock had previously closed at $7.38.

Analyst Ratings Changes

A number of research firms recently weighed in on PACK. Robert W. Baird boosted their price target on shares of Ranpak from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Craig Hallum reissued a “buy” rating and set a $10.00 price target on shares of Ranpak in a research note on Thursday, June 20th.

Ranpak Price Performance

The company has a market cap of $571.83 million, a price-to-earnings ratio of -24.57 and a beta of 2.39. The company has a quick ratio of 2.06, a current ratio of 2.44 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average price is $6.43 and its two-hundred day moving average price is $6.17.

Ranpak (NYSE:PACK) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $85.30 million during the quarter, compared to analyst estimates of $85.50 million. Ranpak had a negative net margin of 6.70% and a negative return on equity of 3.97%. The company’s revenue was up 5.0% compared to the same quarter last year.

Insider Transactions at Ranpak

In other Ranpak news, Director Michael Anthony Jones sold 15,625 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $6.41, for a total transaction of $100,156.25. Following the sale, the director now directly owns 214,859 shares of the company’s stock, valued at $1,377,246.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ranpak

Large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in shares of Ranpak in the second quarter valued at about $31,000. Tower Research Capital LLC TRC grew its stake in shares of Ranpak by 397.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock valued at $61,000 after acquiring an additional 8,390 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of Ranpak in the second quarter valued at about $91,000. SG Americas Securities LLC grew its stake in shares of Ranpak by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock valued at $158,000 after acquiring an additional 7,488 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 acquiring an additional 2,191 shares in the last quarter. 85.94% of the stock is owned by institutional investors.

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.