Ranpak Holdings Corp. (NYSE:PACK) Holdings Decreased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in Ranpak Holdings Corp. (NYSE:PACK - Free Report) by 93.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,171 shares of the company's stock after selling 218,848 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Ranpak were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Ranpak during the second quarter worth approximately $31,000. Quantbot Technologies LP bought a new stake in shares of Ranpak in the 3rd quarter worth $42,000. Glenmede Trust Co. NA acquired a new stake in shares of Ranpak in the third quarter valued at $67,000. Paloma Partners Management Co acquired a new stake in shares of Ranpak in the third quarter valued at $68,000. Finally, Legato Capital Management LLC bought a new position in Ranpak during the second quarter valued at about $91,000. 85.94% of the stock is currently owned by institutional investors.

Ranpak Price Performance

Shares of NYSE PACK traded down $0.06 during mid-day trading on Wednesday, reaching $7.98. The company had a trading volume of 151,508 shares, compared to its average volume of 445,713. The company has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.68. The stock has a market cap of $663.97 million, a PE ratio of -33.52 and a beta of 2.42. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a 1-year low of $3.85 and a 1-year high of $9.04.

Ranpak (NYSE:PACK - Get Free Report) last issued its quarterly earnings results 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 return on equity of 3.54% and a negative net margin of 5.64%. The company had revenue of $92.20 million during the quarter, compared to analysts' expectations of $90.76 million. During the same period in the prior year, the business posted ($0.03) EPS. The company's revenue for the quarter was up 11.4% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Baird R W lowered shares of Ranpak from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird cut their target price on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating for the company in a research note on Friday, November 1st.

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.