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

Y Intercept Hong Kong Ltd lifted its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 16.7% during the 3rd quarter, Holdings Channel reports. The firm owned 56,343 shares of the company’s stock after purchasing an additional 8,047 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Ranpak were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Ranpak by 8.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock valued at $116,000 after buying an additional 1,464 shares during the period. BNP Paribas Financial Markets increased its stake in Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the last quarter. Innealta Capital LLC acquired a new position in Ranpak during the second quarter valued at approximately $31,000. GSA Capital Partners LLP lifted its stake in Ranpak by 1.8% during the third quarter. GSA Capital Partners LLP now owns 289,721 shares of the company’s stock worth $1,892,000 after purchasing an additional 5,254 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Ranpak in the 3rd quarter valued at $39,000. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ranpak Price Performance

PACK stock opened at $7.89 on Tuesday. The stock has a market cap of $656.92 million, a price-to-earnings ratio of -32.88 and a beta of 2.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The company has a 50 day simple moving average of $6.88 and a 200 day simple moving average of $6.73. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04.

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

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.