Formula Growth Ltd. Sells 6,150 Shares of Ranpak Holdings Corp. (NYSE:PACK)

Formula Growth Ltd. cut its stake in Ranpak Holdings Corp. (NYSE:PACK) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,471 shares of the company’s stock after selling 6,150 shares during the period. Formula Growth Ltd.’s holdings in Ranpak were worth $1,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in Ranpak during the fourth quarter valued at about $42,000. SG Americas Securities LLC grew its holdings in shares of Ranpak by 16.9% during the 4th quarter. SG Americas Securities LLC now owns 19,059 shares of the company’s stock worth $131,000 after purchasing an additional 2,758 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Ranpak during the fourth quarter valued at approximately $141,000. Franklin Resources Inc. raised its stake in shares of Ranpak by 15.6% in the third quarter. Franklin Resources Inc. now owns 28,900 shares of the company’s stock valued at $183,000 after purchasing an additional 3,909 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Ranpak by 39.0% in the fourth quarter. Wells Fargo & Company MN now owns 27,407 shares of the company’s stock worth $189,000 after purchasing an additional 7,687 shares during the period. 85.94% of the stock is currently owned by institutional investors and hedge funds.

Ranpak Price Performance

Shares of Ranpak stock opened at $3.49 on Friday. Ranpak Holdings Corp. has a twelve month low of $3.42 and a twelve month high of $9.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.36. The firm has a market cap of $291.38 million, a P/E ratio of -14.52 and a beta of 2.70. The firm’s 50-day simple moving average is $5.65 and its 200-day simple moving average is $6.44.

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.