Goldman Sachs Group Inc. Trims Position in Ranpak Holdings Corp $PACK

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Ranpak Holdings Corp by 44.6%, selling over 104,000 shares, and now owns approximately $705,000 of the company's stock.
• Ranpak recently reported disappointing quarterly earnings, posting a loss of ($0.09) EPS, significantly missing analysts' estimates.
• Despite the decline in Goldman Sachs' holdings, several other institutional investors have increased their positions in Ranpak, with a total of 85.94% of the stock being owned by hedge funds and institutional investors.

Goldman Sachs Group Inc. lowered its stake in shares of Ranpak Holdings Corp (NYSE:PACK - Free Report) by 44.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,122 shares of the company's stock after selling 104,597 shares during the quarter. Goldman Sachs Group Inc. owned about 0.15% of Ranpak worth $705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in Ranpak by 25.4% during the 4th quarter. BNP Paribas Financial Markets now owns 17,881 shares of the company's stock worth $123,000 after acquiring an additional 3,623 shares during the period. Bank of America Corp DE raised its stake in shares of Ranpak by 29.7% during the fourth quarter. Bank of America Corp DE now owns 50,248 shares of the company's stock worth $346,000 after purchasing an additional 11,507 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Ranpak by 54.1% during the fourth quarter. Deutsche Bank AG now owns 41,015 shares of the company's stock worth $282,000 after purchasing an additional 14,396 shares during the period. Millennium Management LLC grew its position in Ranpak by 58.6% in the 4th quarter. Millennium Management LLC now owns 185,203 shares of the company's stock valued at $1,274,000 after buying an additional 68,451 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Ranpak in the 4th quarter valued at $83,000. 85.94% of the stock is owned by hedge funds and other institutional investors.

Ranpak Price Performance

Shares of NYSE PACK opened at $5.19 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 1.74. Ranpak Holdings Corp has a one year low of $2.91 and a one year high of $8.70. The firm has a market capitalization of $437.41 million, a P/E ratio of -12.35 and a beta of 2.76. The company's fifty day moving average is $4.48 and its two-hundred day moving average is $4.20.

Ranpak (NYSE:PACK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). Ranpak had a negative net margin of 9.06% and a negative return on equity of 6.29%. The company had revenue of $77.80 million during the quarter, compared to analysts' expectations of $94.45 million. Ranpak has set its FY 2025 guidance at EPS. Analysts forecast that Ranpak Holdings Corp will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cantor Fitzgerald raised their target price on shares of Ranpak from $6.00 to $6.50 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Craig Hallum raised their price objective on shares of Ranpak from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ranpak has a consensus rating of "Moderate Buy" and a consensus target price of $7.17.

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.

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