State Street Corp Increases Stock Position in Ranpak Holdings Corp. (NYSE:PACK)

State Street Corp boosted its position in Ranpak Holdings Corp. (NYSE:PACK - Free Report) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,133,277 shares of the company's stock after buying an additional 149,446 shares during the period. State Street Corp owned approximately 1.36% of Ranpak worth $7,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PACK. Innealta Capital LLC bought a new position in Ranpak in the 2nd quarter valued at about $31,000. Quarry LP bought a new position in shares of Ranpak in the third quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new position in shares of Ranpak during the third quarter valued at approximately $42,000. Glenmede Trust Co. NA bought a new stake in Ranpak during the third quarter worth $67,000. Finally, Paloma Partners Management Co purchased a new stake in Ranpak in the 3rd quarter valued at $68,000. Institutional investors own 85.94% of the company's stock.

Ranpak Stock Performance

PACK traded down $0.21 during trading on Friday, hitting $6.95. 146,442 shares of the company traded hands, compared to its average volume of 434,659. The firm has a market cap of $578.64 million, a P/E ratio of -28.96 and a beta of 2.42. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71. Ranpak Holdings Corp. has a one year low of $3.85 and a one year high of $9.04. The stock's fifty day moving average is $7.07 and its 200 day moving average is $6.80.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald started coverage on shares of Ranpak in a report on Thursday, December 19th. They set an "overweight" rating and a $11.50 price objective on the stock. Robert W. Baird cut their price target on shares of Ranpak from $10.00 to $7.00 and set a "neutral" rating on the stock in a report on Friday, November 1st.

Ranpak Company 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.