Trexquant Investment LP Invests $633,000 in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Trexquant Investment LP bought a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) during the 4th quarter, HoldingsChannel reports. The firm bought 36,225 shares of the company’s stock, valued at approximately $633,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Pactiv Evergreen by 111.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 145,240 shares of the company’s stock worth $2,537,000 after acquiring an additional 76,440 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Pactiv Evergreen during the fourth quarter worth approximately $270,000. A&I Financial Services LLC acquired a new stake in Pactiv Evergreen during the fourth quarter worth approximately $744,000. Alberta Investment Management Corp bought a new stake in Pactiv Evergreen in the fourth quarter worth approximately $9,958,000. Finally, Wolverine Asset Management LLC acquired a new position in Pactiv Evergreen in the fourth quarter valued at approximately $1,359,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PTVE shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Finally, UBS Group lowered shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price objective for the company from $16.00 to $18.00 in a report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Pactiv Evergreen presently has an average rating of “Hold” and a consensus target price of $16.80.

Pactiv Evergreen Price Performance

Shares of NASDAQ:PTVE opened at $18.01 on Friday. The stock’s 50 day moving average is $17.89 and its 200-day moving average is $15.74. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $18.03. The company has a quick ratio of 1.04, a current ratio of 1.93 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -19.58, a PEG ratio of 1.47 and a beta of 1.24.

Pactiv Evergreen Profile

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.