Amundi Trims Holdings in Ranpak Holdings Corp. (NYSE:PACK)

Amundi reduced its stake in Ranpak Holdings Corp. (NYSE:PACK) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 717,386 shares of the company’s stock after selling 59,012 shares during the quarter. Amundi’s holdings in Ranpak were worth $4,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PACK. Quarry LP purchased a new stake in shares of Ranpak in the third quarter valued at about $39,000. Quantbot Technologies LP purchased a new stake in shares of Ranpak in the 3rd quarter valued at approximately $42,000. Glenmede Trust Co. NA acquired a new stake in shares of Ranpak during the 3rd quarter worth approximately $67,000. Paloma Partners Management Co purchased a new stake in shares of Ranpak during the 3rd quarter valued at approximately $68,000. Finally, BNP Paribas Financial Markets lifted its holdings in Ranpak by 27.6% in the third quarter. BNP Paribas Financial Markets now owns 14,258 shares of the company’s stock valued at $93,000 after acquiring an additional 3,087 shares during the last quarter. 85.94% of the stock is owned by institutional investors and hedge funds.

Ranpak Price Performance

Ranpak stock opened at $6.02 on Friday. The company’s 50 day simple moving average is $6.79 and its 200-day simple moving average is $6.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. Ranpak Holdings Corp. has a 1 year low of $5.54 and a 1 year high of $9.04. The company has a market capitalization of $501.04 million, a price-to-earnings ratio of -25.08 and a beta of 2.59.

Analyst Ratings Changes

Separately, Cantor Fitzgerald initiated coverage on Ranpak in a research note on Thursday, December 19th. They set an “overweight” rating and a $11.50 target price for the company.

Ranpak Company Profile

Ranpak Holdings Corp., together with its subsidiaries, provides product protection solutions and end-of-line automation 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, as well as cold chain products, which are used to provide insulation for goods.