Yakira Capital Management Inc. Buys Shares of 118,823 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Yakira Capital Management Inc. purchased a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) during the 4th quarter, Holdings Channel reports. The firm purchased 118,823 shares of the company’s stock, valued at approximately $2,076,000.

Other large investors also recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in Pactiv Evergreen by 10,155.9% in the 4th quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock worth $61,000 after buying an additional 3,453 shares in the last quarter. Blue Trust Inc. boosted its position in Pactiv Evergreen by 1,590.7% during the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock worth $139,000 after acquiring an additional 7,492 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Pactiv Evergreen during the fourth quarter valued at $180,000. Intech Investment Management LLC bought a new stake in shares of Pactiv Evergreen during the third quarter valued at about $132,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Pactiv Evergreen in the fourth quarter worth about $257,000. Institutional investors and hedge funds own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $18.01 on Friday. The firm has a 50-day moving average of $17.85 and a two-hundred day moving average of $15.47. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -19.58, a PEG ratio of 1.47 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. Pactiv Evergreen Inc. has a twelve month low of $8.83 and a twelve month high of $18.03.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTVE. Citigroup reissued a “neutral” rating and set a $18.00 target price (up previously from $13.00) on shares of Pactiv Evergreen in a research note on Tuesday, December 10th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price objective (up previously from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $18.00 target price (up previously from $14.00) on shares of Pactiv Evergreen in a report on Thursday, December 19th. Finally, UBS Group lowered Pactiv Evergreen from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $18.00 in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.80.

Pactiv Evergreen Company Profile

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.