ExodusPoint Capital Management LP Has $340,000 Position in Ranpak Holdings Corp. (NYSE:PACK)

ExodusPoint Capital Management LP trimmed its holdings in shares of Ranpak Holdings Corp. (NYSE:PACK) by 20.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,350 shares of the company’s stock after selling 12,380 shares during the period. ExodusPoint Capital Management LP owned about 0.06% of Ranpak worth $340,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PACK. KLP Kapitalforvaltning AS acquired a new position in Ranpak during the fourth quarter valued at approximately $42,000. BNP Paribas Financial Markets raised its stake in shares of Ranpak by 27.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock worth $93,000 after purchasing an additional 3,087 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ranpak by 16.9% in the 4th quarter. SG Americas Securities LLC now owns 19,059 shares of the company’s stock valued at $131,000 after buying an additional 2,758 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Ranpak by 15.6% in the third quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock valued at $183,000 after buying an additional 3,909 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Ranpak during the third quarter worth $222,000. Institutional investors own 85.94% of the company’s stock.

Ranpak Stock Performance

Shares of NYSE PACK opened at $3.74 on Friday. 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 $312.28 million, a P/E ratio of -15.56 and a beta of 2.70. Ranpak Holdings Corp. has a 12 month low of $3.46 and a 12 month high of $9.04. The stock has a 50 day moving average of $6.05 and a 200-day moving average of $6.53.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald began coverage on shares of Ranpak in a research note on Thursday, December 19th. They issued an “overweight” rating and a $11.50 price target for the company.

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.