Los Angeles Capital Management LLC Sells 16,055 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Los Angeles Capital Management LLC decreased its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,457 shares of the company’s stock after selling 16,055 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Ranpak were worth $728,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PACK. Innealta Capital LLC acquired a new position in shares of Ranpak during the 2nd quarter worth about $31,000. Legato Capital Management LLC bought a new position in Ranpak in the second quarter valued at approximately $91,000. SG Americas Securities LLC bought a new position in Ranpak in the third quarter valued at approximately $106,000. The Manufacturers Life Insurance Company increased its position in shares of Ranpak by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,098 shares of the company’s stock worth $116,000 after purchasing an additional 1,464 shares during the last quarter. Finally, Gabelli Funds LLC acquired a new stake in shares of Ranpak in the 2nd quarter valued at approximately $129,000. Institutional investors own 85.94% of the company’s stock.

Ranpak Stock Performance

Shares of NYSE PACK opened at $6.63 on Friday. Ranpak Holdings Corp. has a 12 month low of $3.56 and a 12 month high of $9.04. The stock has a 50 day moving average of $6.29 and a 200-day moving average of $6.58. The company has a current ratio of 2.36, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $552.01 million, a P/E ratio of -27.63 and a beta of 2.37.

Ranpak (NYSE:PACK) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The company 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%. Ranpak’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) earnings per share.

Wall Street Analyst Weigh In

PACK has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price 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. Baird R W lowered shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

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.