Simcoe Capital LLC Takes $2.91 Million Position in Ranpak Holdings Corp $PACK

Simcoe Capital LLC bought a new stake in Ranpak Holdings Corp (NYSE:PACK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 538,434 shares of the company’s stock, valued at approximately $2,913,000. Ranpak accounts for 2.7% of Simcoe Capital LLC’s portfolio, making the stock its 22nd biggest position. Simcoe Capital LLC owned 0.64% of Ranpak as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its position in Ranpak by 113.4% during the fourth quarter. First Eagle Investment Management LLC now owns 390,010 shares of the company’s stock worth $2,110,000 after purchasing an additional 207,224 shares during the period. UBS Group AG lifted its position in Ranpak by 40.9% during the fourth quarter. UBS Group AG now owns 731,332 shares of the company’s stock worth $3,957,000 after purchasing an additional 212,442 shares during the period. Quent Capital LLC bought a new stake in Ranpak during the fourth quarter worth about $549,000. JPMorgan Chase & Co. lifted its position in Ranpak by 107.6% during the third quarter. JPMorgan Chase & Co. now owns 133,041 shares of the company’s stock worth $748,000 after purchasing an additional 68,967 shares during the period. Finally, Worth Venture Partners LLC bought a new stake in Ranpak during the third quarter worth about $126,000. Institutional investors own 85.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Craig Hallum cut their price objective on shares of 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 reaffirmed a “sell (d-)” rating on shares of Ranpak in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Ranpak from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Stock Down 0.3%

PACK stock opened at $6.30 on Wednesday. The stock has a market capitalization of $538.90 million, a P/E ratio of -14.32 and a beta of 3.06. The company has a current ratio of 1.73, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. Ranpak Holdings Corp has a 12 month low of $3.20 and a 12 month high of $6.67. The firm has a 50-day moving average price of $4.16 and a 200-day moving average price of $4.94.

Ranpak (NYSE:PACK) last posted its earnings results on Thursday, April 30th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $101.20 million during the quarter, compared to the consensus estimate of $91.59 million. Ranpak had a negative return on equity of 7.04% and a negative net margin of 9.28%. As a group, equities research analysts anticipate that Ranpak Holdings Corp will post -0.25 EPS for the current fiscal year.

Ranpak Company Profile

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.