G2 Investment Partners Management LLC Raises Stock Position in Ranpak Holdings Corp. (NYSE:PACK)

G2 Investment Partners Management LLC raised its stake in Ranpak Holdings Corp. (NYSE:PACK - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,070,511 shares of the company's stock after acquiring an additional 683,851 shares during the quarter. Ranpak makes up 5.5% of G2 Investment Partners Management LLC's holdings, making the stock its 3rd biggest position. G2 Investment Partners Management LLC owned approximately 3.69% of Ranpak worth $21,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Ranpak by 367.0% in the 3rd quarter. Barclays PLC now owns 73,116 shares of the company's stock worth $478,000 after buying an additional 57,461 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ranpak by 185.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company's stock worth $2,376,000 after buying an additional 236,398 shares during the period. SG Americas Securities LLC boosted its holdings in Ranpak by 16.9% in the 4th quarter. SG Americas Securities LLC now owns 19,059 shares of the company's stock worth $131,000 after buying an additional 2,758 shares during the period. Empowered Funds LLC boosted its holdings in Ranpak by 18.5% in the 4th quarter. Empowered Funds LLC now owns 363,877 shares of the company's stock worth $2,503,000 after buying an additional 56,908 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in Ranpak by 3.3% in the 4th quarter. New York State Common Retirement Fund now owns 415,847 shares of the company's stock worth $2,861,000 after buying an additional 13,092 shares during the period. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PACK has been the subject of several analyst reports. Robert W. Baird cut their price objective on shares of Ranpak from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday. Cantor Fitzgerald cut their price objective on shares of Ranpak from $11.50 to $6.00 and set an "overweight" rating for the company in a report on Wednesday.

Ranpak Price Performance

NYSE PACK traded up $0.03 on Friday, hitting $3.38. The stock had a trading volume of 424,196 shares, compared to its average volume of 434,624. Ranpak Holdings Corp. has a 52-week low of $2.91 and a 52-week high of $9.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The company has a market capitalization of $282.60 million, a price-to-earnings ratio of -14.08 and a beta of 2.79. The firm has a 50-day moving average of $4.65 and a 200-day moving average of $6.21.

Ranpak (NYSE:PACK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.09). Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The firm had revenue of $91.20 million during the quarter, compared to analysts' expectations of $90.56 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that Ranpak Holdings Corp. will post -0.2 EPS for the current year.

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.