Chicago Capital Management LLC Purchases Shares of 30,000 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Chicago Capital Management LLC bought a new stake in shares of Pactiv Evergreen Inc. (NASDAQ:PTVE) in the 4th quarter, HoldingsChannel reports. The firm bought 30,000 shares of the company’s stock, valued at approximately $524,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in shares of Pactiv Evergreen during the third quarter worth approximately $132,000. Charles Schwab Investment Management Inc. lifted its stake in Pactiv Evergreen by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 982,661 shares of the company’s stock worth $11,310,000 after purchasing an additional 16,029 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Pactiv Evergreen during the third quarter valued at about $215,000. Paloma Partners Management Co bought a new position in shares of Pactiv Evergreen during the third quarter valued at about $178,000. Finally, Clearline Capital LP increased its holdings in shares of Pactiv Evergreen by 15.6% in the third quarter. Clearline Capital LP now owns 167,558 shares of the company’s stock worth $1,929,000 after buying an additional 22,569 shares during the period. Institutional investors own 22.23% of the company’s stock.

Pactiv Evergreen Price Performance

Shares of NASDAQ PTVE opened at $17.94 on Wednesday. Pactiv Evergreen Inc. has a 1 year low of $8.83 and a 1 year high of $17.94. The stock has a market capitalization of $3.24 billion, a P/E ratio of -19.50, a P/E/G ratio of 1.47 and a beta of 1.24. The company’s 50-day moving average is $17.80 and its 200 day moving average is $15.11. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.93 and a quick ratio of 1.04.

Wall Street Analysts Forecast Growth

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

About Pactiv Evergreen

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.