M&T Bank Corp Reduces Stake in Ranpak Holdings Corp. (NYSE:PACK)

M&T Bank Corp lowered its stake in shares of Ranpak Holdings Corp. (NYSE:PACK) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,461 shares of the company’s stock after selling 5,288 shares during the period. M&T Bank Corp owned 0.23% of Ranpak worth $1,270,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Ranpak in the second quarter worth $31,000. Quarry LP bought a new position in shares of Ranpak during the 3rd quarter worth $39,000. Quantbot Technologies LP purchased a new stake in Ranpak in the 3rd quarter worth about $42,000. Glenmede Trust Co. NA purchased a new stake in Ranpak in the 3rd quarter worth about $67,000. Finally, Paloma Partners Management Co bought a new stake in Ranpak in the 3rd quarter valued at about $68,000. Institutional investors own 85.94% of the company’s stock.

Ranpak Trading Down 2.5 %

NYSE:PACK opened at $7.70 on Monday. Ranpak Holdings Corp. has a 1 year low of $3.85 and a 1 year high of $9.04. The stock’s fifty day moving average price is $6.84 and its two-hundred day moving average price is $6.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 2.01. The company has a market cap of $641.08 million, a P/E ratio of -32.08 and a beta of 2.42.

Ranpak (NYSE:PACK) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $92.20 million for 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 business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their target price on shares of Ranpak from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, November 1st.

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.