Renaissance Technologies LLC Trims Stock Position in Ranpak Holdings Corp. (NYSE:PACK)

Renaissance Technologies LLC lowered its holdings in Ranpak Holdings Corp. (NYSE:PACK - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,309 shares of the company's stock after selling 80,991 shares during the period. Renaissance Technologies LLC owned approximately 0.12% of Ranpak worth $683,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Ranpak by 185.5% during the third quarter. JPMorgan Chase & Co. now owns 363,815 shares of the company's stock worth $2,376,000 after purchasing an additional 236,398 shares during the last quarter. Barclays PLC lifted its position 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 last quarter. Empowered Funds LLC boosted its stake in Ranpak by 18.5% in the fourth 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 in the last quarter. Vanguard Group Inc. grew its position in Ranpak by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 2,543,196 shares of the company's stock valued at $17,497,000 after acquiring an additional 49,102 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Ranpak by 93.8% during the third quarter. Jane Street Group LLC now owns 84,763 shares of the company's stock worth $554,000 after acquiring an additional 41,030 shares in the last quarter. Institutional investors own 85.94% of the company's stock.

Ranpak Price Performance

Shares of Ranpak stock remained flat at $3.05 on Thursday. 87,218 shares of the stock traded hands, compared to its average volume of 657,883. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. Ranpak Holdings Corp. has a 1 year low of $2.91 and a 1 year high of $9.04. The firm has a 50 day moving average of $4.78 and a 200-day moving average of $6.24. The firm has a market cap of $255.01 million, a PE ratio of -12.71 and a beta of 2.79.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on PACK shares. Cantor Fitzgerald reduced their target price on shares of Ranpak from $11.50 to $6.00 and set an "overweight" rating on the stock in a report on Wednesday. Robert W. Baird cut their price target on shares of Ranpak from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday.

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.