Traders Buy Large Volume of Ranpak Call Options (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK - Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders acquired 3,800 call options on the company. This represents an increase of approximately 1,041% compared to the typical daily volume of 333 call options.

Ranpak Stock Performance

PACK traded down $0.19 on Monday, reaching $3.86. 241,871 shares of the stock were exchanged, compared to its average volume of 414,014. Ranpak has a fifty-two week low of $3.65 and a fifty-two week high of $9.04. The company's 50-day moving average price is $6.51 and its 200 day moving average price is $6.66. 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 firm has a market capitalization of $322.73 million, a PE ratio of -16.15 and a beta of 2.70.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald started coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an "overweight" rating and a $11.50 price objective for the company.

Hedge Funds Weigh In On Ranpak

A number of large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ranpak by 9.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,534 shares of the company's stock valued at $568,000 after acquiring an additional 7,380 shares during the last quarter. ProShare Advisors LLC acquired a new position in Ranpak during the fourth quarter worth $83,000. Meros Investment Management LP increased its position in Ranpak by 1.8% during the 4th quarter. Meros Investment Management LP now owns 956,225 shares of the company's stock worth $6,579,000 after purchasing an additional 16,834 shares in the last quarter. Millennium Management LLC increased its stake in Ranpak by 58.6% in the fourth quarter. Millennium Management LLC now owns 185,203 shares of the company's stock valued at $1,274,000 after purchasing an additional 68,451 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its position in Ranpak by 42.1% during the fourth quarter. Graham Capital Management L.P. now owns 17,398 shares of the company's stock valued at $120,000 after buying an additional 5,155 shares in the last quarter. Institutional investors and hedge funds own 85.94% of the company's stock.

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.