Jacobs Levy Equity Management Inc. Cuts Stock Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Jacobs Levy Equity Management Inc. reduced its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 93.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,171 shares of the company’s stock after selling 218,848 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Ranpak were worth $93,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Ranpak during the 2nd quarter worth approximately $31,000. Quantbot Technologies LP acquired a new position in shares of Ranpak during the 3rd quarter worth approximately $42,000. Glenmede Trust Co. NA acquired a new stake in shares of Ranpak in the third quarter valued at approximately $67,000. Paloma Partners Management Co acquired a new stake in shares of Ranpak in the third quarter valued at approximately $68,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Ranpak in the second quarter valued at approximately $91,000. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PACK. Robert W. Baird cut their price target on Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Baird R W cut Ranpak from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 14th.

Ranpak Price Performance

NYSE:PACK opened at $8.05 on Wednesday. The stock has a market cap of $669.80 million, a PE ratio of -33.33 and a beta of 2.42. Ranpak Holdings Corp. has a one year low of $3.85 and a one year 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 stock has a 50 day moving average price of $6.70 and a 200 day moving average price of $6.67.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $90.76 million. Ranpak had a negative return on equity of 3.54% and a negative net margin of 5.64%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share.

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.