Ranpak Holdings Corp $PACK Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its stake in Ranpak Holdings Corp (NYSE:PACK) by 538.5% in the first quarter, Holdings Channel.com reports. The fund owned 120,751 shares of the company’s stock after buying an additional 101,840 shares during the quarter. Sei Investments Co.’s holdings in Ranpak were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Ranpak by 2.9% during the third quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock worth $395,000 after acquiring an additional 2,008 shares during the last quarter. Bank of America Corp DE increased its position in Ranpak by 7.4% in the 3rd quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock valued at $200,000 after acquiring an additional 2,452 shares during the period. Deutsche Bank AG raised its stake in Ranpak by 8.0% during the 4th quarter. Deutsche Bank AG now owns 35,834 shares of the company’s stock valued at $194,000 after acquiring an additional 2,647 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Ranpak by 27.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Ranpak by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock worth $70,000 after acquiring an additional 3,364 shares during the period. Institutional investors and hedge funds own 85.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PACK shares. Wall Street Zen upgraded Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.00.

Ranpak Trading Down 0.4%

Shares of Ranpak stock opened at $5.57 on Friday. The firm has a market cap of $477.43 million, a price-to-earnings ratio of -12.65 and a beta of 3.14. Ranpak Holdings Corp has a 52-week low of $3.22 and a 52-week high of $7.81. The company’s 50-day simple moving average is $6.54 and its 200-day simple moving average is $5.51. The company has a quick ratio of 1.39, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

Ranpak (NYSE:PACK) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Ranpak had a negative net margin of 9.09% and a negative return on equity of 7.18%. The firm had revenue of $105.20 million during the quarter, compared to analyst estimates of $100.94 million. As a group, equities research analysts anticipate that Ranpak Holdings Corp will post -0.32 earnings per share for the current year.

Ranpak Company Profile

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.