Ranpak Holdings Corp. (NYSE:PACK) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC decreased its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 26.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,022,215 shares of the company’s stock after selling 1,073,045 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 3.63% of Ranpak worth $19,735,000 as of its most recent SEC filing.

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

Ranpak Stock Down 0.8 %

Shares of NYSE PACK opened at $7.79 on Monday. The stock has a market cap of $648.57 million, a PE ratio of -32.46 and a beta of 2.37. 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 12-month low of $3.85 and a 12-month high of $9.04. The company has a 50-day moving average of $6.52 and a 200 day moving average of $6.62.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The firm had revenue of $92.20 million during the quarter, compared to analyst estimates of $90.76 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PACK shares. Robert W. Baird decreased 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. Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

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.