Ranpak Sees Unusually High Options Volume (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK) saw unusually large options trading activity on Friday. Traders purchased 2,128 put options on the company. This represents an increase of approximately 863% compared to the average daily volume of 221 put options.

In other news, Director Thomas F. Corley sold 5,901 shares of the firm’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $35.70, for a total transaction of $210,665.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kurt Zumwalt sold 6,885 shares of the firm’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $34.15, for a total transaction of $235,122.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,090 shares of company stock valued at $1,078,221. 8.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC increased its holdings in Ranpak by 2.9% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 583,810 shares of the company’s stock valued at $14,613,000 after buying an additional 16,393 shares during the period. Northern Trust Corp grew its holdings in shares of Ranpak by 111.7% during the 2nd quarter. Northern Trust Corp now owns 679,393 shares of the company’s stock valued at $17,005,000 after purchasing an additional 358,449 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Ranpak by 10.4% during the 2nd quarter. Rhumbline Advisers now owns 41,564 shares of the company’s stock valued at $1,040,000 after purchasing an additional 3,922 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ranpak by 33.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,168,030 shares of the company’s stock valued at $54,266,000 after purchasing an additional 544,521 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Ranpak by 3,892.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,052,186 shares of the company’s stock valued at $26,336,000 after purchasing an additional 1,025,834 shares during the last quarter. 96.13% of the stock is currently owned by hedge funds and other institutional investors.

Ranpak stock traded down $0.94 during midday trading on Friday, hitting $32.22. The company’s stock had a trading volume of 18,161 shares, compared to its average volume of 368,709. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.78 and a quick ratio of 2.36. Ranpak has a 1-year low of $15.00 and a 1-year high of $42.97. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -397.70 and a beta of 1.10. The company has a 50-day moving average price of $37.61 and a two-hundred day moving average price of $31.84.

Ranpak (NYSE:PACK) last released its earnings results on Wednesday, October 27th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). Ranpak had a negative net margin of 1.50% and a negative return on equity of 0.92%. The firm had revenue of $97.10 million during the quarter, compared to the consensus estimate of $93.20 million. Ranpak’s quarterly revenue was up 26.4% on a year-over-year basis.

Separately, Robert W. Baird lifted their price objective on shares of Ranpak from $30.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $31.33.

Ranpak Company Profile

Ranpak Holdings Corp.engages in the provision of product protection solutions for e-commerce and industrial supply chains in North America, Europe, and Asia. It also offers protective packaging solutions, such as Void-Fill protective systems that convert paper to fill empty spaces in secondary packages and protect objects; Cushioning protective systems, which convert paper into cushioning pads; 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; Cold Chain, Box Lining, and Retail.

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