Ranpak Holdings Corp. (NYSE:PACK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Ranpak Holdings Corp. (NYSE:PACK) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,958 shares of the company’s stock after selling 1,779 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ranpak were worth $320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ranpak by 93.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,375 shares of the company’s stock valued at $108,000 after purchasing an additional 2,592 shares in the last quarter. Dorsey Wright & Associates grew its holdings in Ranpak by 134.7% during the 1st quarter. Dorsey Wright & Associates now owns 2,316 shares of the company’s stock valued at $46,000 after purchasing an additional 1,329 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Ranpak by 344.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 95,010 shares of the company’s stock valued at $1,277,000 after purchasing an additional 73,648 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Ranpak by 31.6% during the 4th quarter. Hsbc Holdings PLC now owns 28,888 shares of the company’s stock valued at $386,000 after purchasing an additional 6,937 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Ranpak by 240.3% during the 4th quarter. JPMorgan Chase & Co. now owns 112,462 shares of the company’s stock valued at $1,512,000 after purchasing an additional 79,415 shares in the last quarter. 83.46% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on PACK. Sidoti began coverage on shares of Ranpak in a report on Monday, April 19th. They set a “buy” rating for the company. TheStreet raised shares of Ranpak from a “d+” rating to a “c” rating in a report on Tuesday, February 23rd. Finally, Berenberg Bank began coverage on shares of Ranpak in a report on Monday, April 26th. They set a “buy” rating and a $24.00 price objective for the company.

In other news, CEO Omar Asali sold 400,000 shares of Ranpak stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $19.79, for a total value of $7,916,000.00. Following the completion of the transaction, the chief executive officer now directly owns 991,843 shares of the company’s stock, valued at approximately $19,628,572.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company’s stock.

NYSE PACK opened at $20.64 on Friday. Ranpak Holdings Corp. has a one year low of $6.79 and a one year high of $25.45. The firm has a 50-day simple moving average of $20.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.96 and a quick ratio of 1.58. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -108.63 and a beta of 0.99.

Ranpak (NYSE:PACK) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Ranpak had a negative net margin of 4.19% and a negative return on equity of 2.58%. The business had revenue of $87.70 million during the quarter.

About Ranpak

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 manufactures and assembles proprietary protective systems that convert kraft paper into a range of packaging and cushioning products to address its customers' needs.

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Institutional Ownership by Quarter for Ranpak (NYSE:PACK)

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