Ranpak Holdings Corp. (NYSE:PACK) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. cut its stake in shares of Ranpak Holdings Corp. (NYSE:PACK) by 11.4% in the 4th quarter, Holdings Channel reports. The fund owned 30,172 shares of the company’s stock after selling 3,866 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Ranpak were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. ArrowMark Colorado Holdings LLC lifted its position in Ranpak by 3.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,125,019 shares of the company’s stock valued at $21,500,000 after purchasing an additional 102,804 shares during the period. Dimensional Fund Advisors LP boosted its position in Ranpak by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,569,282 shares of the company’s stock worth $17,677,000 after purchasing an additional 198,973 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Ranpak by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,543,196 shares of the company’s stock worth $17,497,000 after buying an additional 49,102 shares in the last quarter. Boothbay Fund Management LLC lifted its holdings in shares of Ranpak by 25.4% in the fourth quarter. Boothbay Fund Management LLC now owns 537,124 shares of the company’s stock valued at $3,695,000 after purchasing an additional 108,789 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in Ranpak by 8.2% during the 4th quarter. Kennedy Capital Management LLC now owns 485,532 shares of the company’s stock valued at $3,340,000 after buying an additional 36,648 shares during the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PACK. Cantor Fitzgerald decreased their price target on shares of Ranpak from $11.50 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird lowered their price target on Ranpak from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th.

Ranpak Stock Up 0.7%

NYSE PACK opened at $3.69 on Monday. The business has a 50 day moving average price of $4.40 and a two-hundred day moving average price of $6.13. The stock has a market cap of $308.10 million, a PE ratio of -15.35 and a beta of 2.79. Ranpak Holdings Corp. has a fifty-two week low of $2.91 and a fifty-two week high of $9.04. The company has a quick ratio of 2.01, a current ratio of 2.36 and a debt-to-equity ratio of 0.71.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The business had revenue of $91.20 million during the quarter, compared to analysts’ expectations of $90.56 million. Ranpak had a negative net margin of 5.64% and a negative return on equity of 3.54%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) EPS. As a group, sell-side analysts predict that Ranpak Holdings Corp. will post -0.2 EPS for the current fiscal year.

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.