S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01
S&P 500   4,662.85
DOW   35,911.81
QQQ   380.01

Ranpak Sees Unusually High Options Volume (NYSE:PACK)

Friday, January 14, 2022 | MarketBeat

Ranpak Holdings Corp. (NYSE:PACK) saw some unusual options trading on Friday. Stock traders acquired 2,128 put options on the company. This is an increase of approximately 863% compared to the average volume of 221 put options.

Separately, Robert W. Baird boosted their target price on shares of Ranpak from $30.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, October 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $31.33.

In other news, Director Eric Laurensse sold 16,304 shares of the business's stock in a transaction on Monday, November 8th. The shares were sold at an average price of $38.79, for a total transaction of $632,432.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas F. Corley sold 5,901 shares of the business's stock in a transaction on Monday, November 1st. The shares were sold at an average price of $35.70, for a total transaction of $210,665.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,090 shares of company stock worth $1,078,221. Corporate insiders own 8.50% of the company's stock.

Institutional investors have recently modified their holdings of the business. Soros Capital Management LLC lifted its position in shares of Ranpak by 345.2% during the second quarter. Soros Capital Management LLC now owns 4,630,292 shares of the company's stock worth $115,897,000 after purchasing an additional 3,590,194 shares in the last quarter. Blackstone Inc lifted its position in shares of Ranpak by 875.4% during the second quarter. Blackstone Inc now owns 3,901,465 shares of the company's stock worth $97,654,000 after purchasing an additional 3,501,465 shares in the last quarter. BlackRock Inc. lifted its position in shares of Ranpak by 6.6% during the third quarter. BlackRock Inc. now owns 2,790,883 shares of the company's stock worth $74,851,000 after purchasing an additional 171,962 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Ranpak by 90.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,198,000 shares of the company's stock worth $55,016,000 after purchasing an additional 1,044,800 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Ranpak by 33.5% during the second quarter. Vanguard Group Inc. now owns 2,168,030 shares of the company's stock worth $54,266,000 after purchasing an additional 544,521 shares in the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Ranpak stock traded down $0.94 during trading hours on Friday, hitting $32.22. 18,161 shares of the stock were exchanged, compared to its average volume of 368,709. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.36 and a current ratio of 2.78. The stock has a market capitalization of $2.62 billion, a P/E ratio of -397.70 and a beta of 1.10. Ranpak has a 12 month low of $15.00 and a 12 month high of $42.97. The business's 50-day moving average is $37.61 and its two-hundred day moving average is $31.84.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Wednesday, October 27th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.02 by ($0.04). The firm had revenue of $97.10 million for the quarter, compared to the consensus estimate of $93.20 million. Ranpak had a negative return on equity of 0.92% and a negative net margin of 1.50%. The firm's revenue for the quarter was up 26.4% compared to the same quarter last year.

About Ranpak

Ranpak Holdings Corp.engages in the provision of product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. It also offers protective packaging solutions, such as Void-Fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects; Cushioning protective systems, which convert paper into cushioning pads; 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; Cold Chain, Box Lining, and Retail.

Further Reading: Hold Rating

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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