Tudor Investment Corp ET AL Sells 150,106 Shares of Ranpak Holdings Corp $PACK

Tudor Investment Corp ET AL lowered its stake in shares of Ranpak Holdings Corp (NYSE:PACK) by 87.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,942 shares of the company’s stock after selling 150,106 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Ranpak were worth $123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PACK. Royce & Associates LP purchased a new position in shares of Ranpak in the third quarter worth about $2,529,000. Bastion Asset Management Inc. bought a new position in Ranpak during the 3rd quarter worth approximately $3,201,000. G2 Investment Partners Management LLC increased its stake in Ranpak by 21.5% in the 2nd quarter. G2 Investment Partners Management LLC now owns 4,660,451 shares of the company’s stock worth $16,638,000 after purchasing an additional 823,745 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Ranpak during the third quarter valued at approximately $1,027,000. Finally, Divisadero Street Capital Management LP grew its holdings in shares of Ranpak by 150.0% in the third quarter. Divisadero Street Capital Management LP now owns 250,001 shares of the company’s stock worth $1,405,000 after purchasing an additional 150,000 shares during the last quarter. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Ranpak Stock Performance

NYSE:PACK opened at $3.59 on Friday. The stock has a market cap of $303.72 million, a P/E ratio of -7.97 and a beta of 2.88. The firm’s fifty day simple moving average is $4.66 and its 200 day simple moving average is $5.09. Ranpak Holdings Corp has a twelve month low of $2.91 and a twelve month high of $6.31. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 0.74.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The company had revenue of $111.90 million during the quarter, compared to the consensus estimate of $112.82 million. Ranpak had a negative return on equity of 7.11% and a negative net margin of 9.70%. As a group, research analysts predict that Ranpak Holdings Corp will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PACK shares. Craig Hallum dropped their price target on shares of Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. UBS Group reiterated an “overweight” rating on shares of Ranpak in a report on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ranpak in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.83.

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.