Divisadero Street Capital Management LP Has $1.41 Million Holdings in Ranpak Holdings Corp $PACK

Divisadero Street Capital Management LP grew its position in shares of Ranpak Holdings Corp (NYSE:PACK) by 150.0% in the 3rd quarter, Holdings Channel reports. The firm owned 250,001 shares of the company’s stock after acquiring an additional 150,000 shares during the quarter. Divisadero Street Capital Management LP’s holdings in Ranpak were worth $1,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Ranpak by 4.2% in the 1st quarter. Empowered Funds LLC now owns 379,061 shares of the company’s stock valued at $2,055,000 after purchasing an additional 15,184 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Ranpak by 14.2% during the second quarter. Los Angeles Capital Management LLC now owns 95,145 shares of the company’s stock worth $340,000 after buying an additional 11,798 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Ranpak by 2.9% in the second quarter. Geode Capital Management LLC now owns 1,084,531 shares of the company’s stock valued at $3,872,000 after buying an additional 30,529 shares during the period. XTX Topco Ltd bought a new stake in Ranpak during the second quarter valued at $108,000. Finally, Granite Investment Partners LLC bought a new stake in Ranpak during the second quarter valued at $105,000. Institutional investors and hedge funds own 85.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Craig Hallum lowered their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Ranpak in a research report on Thursday, January 22nd. UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.83.

Ranpak Price Performance

Shares of NYSE PACK opened at $3.44 on Monday. The firm has a market capitalization of $291.01 million, a P/E ratio of -7.63 and a beta of 2.82. The firm’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.24. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 0.74. Ranpak Holdings Corp has a 1-year low of $2.91 and a 1-year high of $6.31.

Ranpak (NYSE:PACK) last issued its earnings results on Thursday, March 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Ranpak had a negative net margin of 9.70% and a negative return on equity of 7.11%. The firm had revenue of $111.90 million during the quarter, compared to analyst estimates of $112.82 million. Equities research analysts anticipate that Ranpak Holdings Corp will post -0.2 earnings per share for the current fiscal year.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.