Boothbay Fund Management LLC Purchases New Shares in Pactiv Evergreen Inc. (NASDAQ:PTVE)

Boothbay Fund Management LLC acquired a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,596 shares of the company’s stock, valued at approximately $136,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new position in Pactiv Evergreen during the second quarter valued at $30,000. Quantbot Technologies LP purchased a new position in shares of Pactiv Evergreen in the 1st quarter worth about $30,000. UBS Group AG raised its position in shares of Pactiv Evergreen by 1,034.3% in the 3rd quarter. UBS Group AG now owns 3,369 shares of the company’s stock worth $30,000 after purchasing an additional 3,072 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Pactiv Evergreen in the 3rd quarter worth about $76,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Pactiv Evergreen in the 2nd quarter worth about $104,000. Hedge funds and other institutional investors own 21.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PTVE. The Goldman Sachs Group lifted their price target on Pactiv Evergreen from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, November 14th. Royal Bank of Canada lifted their price target on Pactiv Evergreen from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 9th. Citigroup decreased their target price on Pactiv Evergreen from $13.00 to $12.00 in a research report on Wednesday, January 4th. Finally, TheStreet raised Pactiv Evergreen from a “d” rating to a “c-” rating in a research report on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.17.

Pactiv Evergreen Trading Down 2.3 %

Pactiv Evergreen stock opened at $11.38 on Tuesday. The business has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $10.88. The company has a market cap of $2.02 billion, a P/E ratio of 6.36 and a beta of 1.44. Pactiv Evergreen Inc. has a 52-week low of $8.31 and a 52-week high of $12.46. The company has a quick ratio of 1.27, a current ratio of 2.41 and a debt-to-equity ratio of 2.93.

About Pactiv Evergreen

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Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in North America. It operates through three segments: Foodservice, Food Merchandising, and Beverage Merchandising. The Foodservice segment offers food containers, hot and cold cups, lids, dinnerware, tableware, service ware, and other products.