Roubaix Capital LLC Acquires 41,872 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Roubaix Capital LLC grew its holdings in Ranpak Holdings Corp. (NYSE:PACK) by 7.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 641,429 shares of the company’s stock after buying an additional 41,872 shares during the quarter. Ranpak comprises approximately 2.3% of Roubaix Capital LLC’s holdings, making the stock its 19th largest holding. Roubaix Capital LLC’s holdings in Ranpak were worth $4,189,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Meros Investment Management LP boosted its position in Ranpak by 32.6% during the second quarter. Meros Investment Management LP now owns 943,729 shares of the company’s stock valued at $6,068,000 after purchasing an additional 231,779 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Ranpak during the second quarter valued at about $713,000. Los Angeles Capital Management LLC boosted its holdings in shares of Ranpak by 177.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 127,512 shares of the company’s stock valued at $820,000 after buying an additional 81,552 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Ranpak by 4.8% in the 1st quarter. Russell Investments Group Ltd. now owns 321,430 shares of the company’s stock worth $2,530,000 after buying an additional 14,833 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Ranpak by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,187 shares of the company’s stock worth $18,362,000 after acquiring an additional 25,073 shares in the last quarter. Hedge funds and other institutional investors own 85.94% of the company’s stock.

Ranpak Stock Performance

PACK opened at $5.92 on Thursday. The firm’s 50-day moving average price is $6.36 and its 200-day moving average price is $6.63. The company has a market cap of $492.26 million, a P/E ratio of -21.13 and a beta of 2.36. The company has a quick ratio of 2.07, a current ratio of 2.52 and a debt-to-equity ratio of 0.69. Ranpak Holdings Corp. has a 52-week low of $2.63 and a 52-week high of $9.04.

Ranpak (NYSE:PACK) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.13. Ranpak had a negative net margin of 4.41% and a negative return on equity of 2.67%. The business had revenue of $86.40 million for the quarter, compared to analyst estimates of $87.67 million. During the same quarter in the prior year, the business posted ($0.03) EPS. Ranpak’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PACK shares. Baird R W downgraded shares of Ranpak from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird cut Ranpak from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, August 14th.

Ranpak 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.