Meros Investment Management LP Reduces Position in Ranpak Holdings Corp. (NYSE:PACK)

Meros Investment Management LP trimmed its stake in Ranpak Holdings Corp. (NYSE:PACK) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 939,391 shares of the company’s stock after selling 4,338 shares during the quarter. Ranpak makes up 2.8% of Meros Investment Management LP’s portfolio, making the stock its 16th biggest holding. Meros Investment Management LP owned approximately 1.13% of Ranpak worth $6,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Ranpak by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,129,802 shares of the company’s stock valued at $13,694,000 after purchasing an additional 542,464 shares during the period. AQR Capital Management LLC purchased a new position in shares of Ranpak during the 2nd quarter worth about $1,178,000. State Street Corp boosted its position in shares of Ranpak by 15.2% in the third quarter. State Street Corp now owns 1,133,277 shares of the company’s stock worth $7,400,000 after acquiring an additional 149,446 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Ranpak by 146.8% during the 2nd quarter. Squarepoint Ops LLC now owns 226,834 shares of the company’s stock valued at $1,459,000 after buying an additional 134,910 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Ranpak during the 2nd quarter worth $713,000. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PACK shares. Baird R W cut 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 price objective on Ranpak from $10.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st.

Ranpak Trading Up 0.6 %

NYSE PACK opened at $8.05 on Wednesday. The stock has a market cap of $669.80 million, a P/E ratio of -33.52 and a beta of 2.42. The company’s fifty day simple moving average is $6.74 and its 200-day simple moving average is $6.68. 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 52 week low of $3.85 and a 52 week high of $9.04.

Ranpak (NYSE:PACK) 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 business 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 company posted ($0.03) EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis.

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.