Ranpak Holdings Corp. (NYSE:PACK) CEO Acquires $504,000.00 in Stock

Posted by MarketBeat News on Aug 6th, 2022

Ranpak Holdings Corp. (NYSE:PACK – Get Rating) CEO Omar Asali bought 100,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were bought at an average cost of $5.04 per share, for a total transaction of $504,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,184,273 shares in the company, valued at approximately $11,008,735.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ranpak Stock Down 3.4 %

Shares of NYSE:PACK opened at $5.18 on Friday. The company has a market capitalization of $424.41 million, a price-to-earnings ratio of -14.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.20 and a quick ratio of 2.40. The business’s 50-day moving average is $7.76 and its 200-day moving average is $16.00. Ranpak Holdings Corp. has a 1 year low of $4.72 and a 1 year high of $42.97.

Ranpak (NYSE:PACK – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The business had revenue of $86.80 million during the quarter, compared to analyst estimates of $93.32 million. Ranpak had a negative net margin of 7.80% and a negative return on equity of 4.65%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new position in shares of Ranpak in the 4th quarter valued at about $28,000. Rockefeller Capital Management L.P. bought a new stake in Ranpak in the 4th quarter valued at about $38,000. Parallel Advisors LLC increased its position in Ranpak by 26,142.9% in the 1st quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $38,000 after buying an additional 1,830 shares in the last quarter. Silvant Capital Management LLC bought a new stake in Ranpak in the 1st quarter valued at about $46,000. Finally, Ensign Peak Advisors Inc bought a new stake in Ranpak in the 4th quarter valued at about $169,000. 98.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PACK. Robert W. Baird cut their target price on Ranpak from $38.00 to $20.00 in a report on Monday, May 9th. Craig Hallum cut their target price on Ranpak from $35.00 to $19.00 in a report on Monday, May 9th.

About Ranpak

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Ranpak Holdings Corp., together with its subsidiaries, provide product protection 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.