Ranpak (NYSE:PACK) Shares Down 5.9%

Ranpak Holdings Corp. (NYSE:PACK) fell 5.9% on Monday . The company traded as low as $6.03 and last traded at $6.05. 210,923 shares were traded during trading, a decline of 63% from the average session volume of 574,755 shares. The stock had previously closed at $6.43.

Wall Street Analyst Weigh In

PACK has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Ranpak from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Craig Hallum reiterated a “buy” rating and issued a $10.00 price objective on shares of Ranpak in a report on Thursday, June 20th.

Ranpak Stock Down 5.3 %

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.06 and a current ratio of 2.44. The company has a market cap of $505.43 million, a P/E ratio of -21.61 and a beta of 2.31. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $5.97.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, May 2nd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Ranpak had a negative return on equity of 3.97% and a negative net margin of 6.70%. The firm had revenue of $85.30 million for the quarter, compared to analyst estimates of $85.50 million. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.

Insider Buying and Selling

In other news, Director Michael Anthony Jones sold 15,625 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $6.41, for a total transaction of $100,156.25. Following the completion of the sale, the director now owns 214,859 shares in the company, valued at approximately $1,377,246.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Trading of Ranpak

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Ranpak by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the company’s stock valued at $231,000 after buying an additional 2,191 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Ranpak by 38.2% in the fourth quarter. SG Americas Securities LLC now owns 27,079 shares of the company’s stock worth $158,000 after purchasing an additional 7,488 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Ranpak by 397.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,500 shares of the company’s stock worth $61,000 after purchasing an additional 8,390 shares during the period. Russell Investments Group Ltd. grew its position in Ranpak by 4.2% during the fourth quarter. Russell Investments Group Ltd. now owns 306,597 shares of the company’s stock valued at $1,784,000 after purchasing an additional 12,490 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Ranpak by 13.9% in the 4th quarter. M&T Bank Corp now owns 166,510 shares of the company’s stock valued at $970,000 after buying an additional 20,374 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.

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.