Simcoe Capital LLC Invests $2.91 Million in Ranpak Holdings Corp $PACK

Simcoe Capital LLC bought a new position in Ranpak Holdings Corp (NYSE:PACK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 538,434 shares of the company’s stock, valued at approximately $2,913,000. Ranpak comprises 2.7% of Simcoe Capital LLC’s portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Ranpak by 2.9% in the third quarter. Rhumbline Advisers now owns 70,261 shares of the company’s stock valued at $395,000 after buying an additional 2,008 shares during the period. Bank of America Corp DE increased its stake in shares of Ranpak by 7.4% in the third quarter. Bank of America Corp DE now owns 35,583 shares of the company’s stock valued at $200,000 after buying an additional 2,452 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Ranpak by 27.9% in the second quarter. Gamco Investors INC. ET AL now owns 14,000 shares of the company’s stock valued at $50,000 after buying an additional 3,050 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Ranpak by 20.7% in the second quarter. The Manufacturers Life Insurance Company now owns 19,647 shares of the company’s stock valued at $70,000 after buying an additional 3,364 shares during the period. Finally, Intech Investment Management LLC increased its stake in shares of Ranpak by 26.3% in the third quarter. Intech Investment Management LLC now owns 28,357 shares of the company’s stock valued at $159,000 after buying an additional 5,909 shares during the period. Institutional investors own 85.94% of the company’s stock.

Wall Street Analysts Forecast Growth

PACK has been the subject of several recent research reports. Wall Street Zen raised Ranpak from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Craig Hallum lowered their price objective on Ranpak from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ranpak in a research note on Tuesday, April 21st. Finally, UBS Group reaffirmed an “overweight” rating on shares of Ranpak in a research note on Friday, March 6th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Ranpak Stock Performance

NYSE:PACK opened at $6.30 on Wednesday. The company has a market capitalization of $538.90 million, a PE ratio of -14.32 and a beta of 3.06. The company has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $4.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.32 and a current ratio of 1.73. Ranpak Holdings Corp has a fifty-two week low of $3.20 and a fifty-two week high of $6.67.

Ranpak (NYSE:PACK) last released its earnings results on Thursday, April 30th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $101.20 million for the quarter, compared to analyst estimates of $91.59 million. Ranpak had a negative net margin of 9.28% and a negative return on equity of 7.04%. Research analysts anticipate that Ranpak Holdings Corp will post -0.25 earnings per share for the current year.

About Ranpak

Ranpak Holdings Corp. (NYSE: PACK) is a leading provider of sustainable, paper-based packaging solutions designed to protect products during transit. The company’s core business centers on the design, manufacture and distribution of automated systems and consumable paper packaging materials that offer an eco-friendly alternative to plastic-based void-fill and protective packaging. Ranpak’s solutions include crumpled paper fillers, paper wrap systems and tailored automation equipment that serve diverse end markets such as e-commerce, industrial parts, electronics and retail.

Founded in 1972 and headquartered in Concord Township, Ohio, Ranpak has built a global presence by combining innovation in paper converting technology with a commitment to sustainability.