Meros Investment Management LP Buys 231,779 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Meros Investment Management LP grew its position in Ranpak Holdings Corp. (NYSE:PACK - Free Report) by 32.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 943,729 shares of the company's stock after acquiring an additional 231,779 shares during the quarter. Ranpak accounts for about 2.9% of Meros Investment Management LP's holdings, making the stock its 15th largest position. Meros Investment Management LP owned 1.14% of Ranpak worth $6,068,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Ranpak during the second quarter worth approximately $31,000. Legato Capital Management LLC acquired a new stake in shares of Ranpak in the second quarter valued at $91,000. The Manufacturers Life Insurance Company lifted its position in Ranpak by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company's stock worth $116,000 after buying an additional 1,464 shares in the last quarter. Gabelli Funds LLC acquired a new stake in Ranpak in the 2nd quarter valued at about $129,000. Finally, Caxton Associates LP bought a new stake in shares of Ranpak during the second quarter valued at approximately $158,000. 85.94% of the stock is currently owned by institutional investors.

Ranpak Trading Up 0.3 %

NYSE:PACK traded up $0.02 during trading hours on Friday, hitting $6.43. The stock had a trading volume of 193,842 shares, compared to its average volume of 499,283. Ranpak Holdings Corp. has a one year low of $2.63 and a one year high of $9.04. The company has a market cap of $535.10 million, a price-to-earnings ratio of -22.89 and a beta of 2.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.07 and a current ratio of 2.52. The business's 50 day moving average is $6.95 and its 200-day moving average is $6.86.

Ranpak (NYSE:PACK - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.13. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The company had revenue of $86.40 million during the quarter, compared to the consensus estimate of $87.67 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PACK. Robert W. Baird cut Ranpak from an "outperform" rating to a "neutral" rating and set a $10.00 price target on the stock. in a report on Wednesday, August 14th. Baird R W lowered shares of Ranpak from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 14th. Finally, Craig Hallum reiterated a "buy" rating and set a $10.00 target price on shares of Ranpak in a research report on Thursday, June 20th.

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.