Ranpak (NYSE:PACK) Shares Down 5.9%

Shares of Ranpak Holdings Corp. (NYSE:PACK) were down 5.9% on Monday . The stock traded as low as $6.03 and last traded at $6.05. Approximately 210,923 shares were traded during trading, a decline of 63% from the average daily volume of 574,755 shares. The stock had previously closed at $6.43.

Wall Street Analyst Weigh In

Several brokerages have commented on PACK. Craig Hallum reiterated a “buy” rating and issued a $10.00 price target on shares of Ranpak in a research note on Thursday, June 20th. Robert W. Baird lifted 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.

Ranpak Price Performance

The company has a fifty day moving average price of $6.51 and a two-hundred day moving average price of $5.97. The firm has a market capitalization of $505.43 million, a PE ratio of -21.61 and a beta of 2.31. The company has a current ratio of 2.44, a quick ratio of 2.06 and a debt-to-equity ratio of 0.70.

Ranpak (NYSE:PACK) last posted its quarterly earnings data 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 firm 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%. Ranpak’s quarterly revenue was up 5.0% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Michael Anthony Jones sold 15,625 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $6.41, for a total value of $100,156.25. Following the transaction, the director now owns 214,859 shares in the company, valued at approximately $1,377,246.19. The sale 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.

Institutional Trading of Ranpak

A number of institutional investors have recently modified their holdings of PACK. G2 Investment Partners Management LLC boosted its stake in shares of Ranpak by 102.5% during the 4th quarter. G2 Investment Partners Management LLC now owns 1,863,540 shares of the company’s stock worth $10,846,000 after acquiring an additional 943,210 shares in the last quarter. Roubaix Capital LLC boosted its position in Ranpak by 188.8% during the first quarter. Roubaix Capital LLC now owns 714,592 shares of the company’s stock worth $5,624,000 after purchasing an additional 467,179 shares in the last quarter. Empowered Funds LLC grew its holdings in Ranpak by 50.5% in the first quarter. Empowered Funds LLC now owns 270,545 shares of the company’s stock valued at $2,129,000 after purchasing an additional 90,773 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Ranpak by 11.2% in the third quarter. Kennedy Capital Management LLC now owns 495,522 shares of the company’s stock valued at $2,696,000 after buying an additional 49,915 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Ranpak during the 1st quarter worth $362,000. 85.94% of the stock is currently owned by hedge funds and other 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.