Olympiad Research LP Acquires Shares of 86,505 Pactiv Evergreen Inc. (NASDAQ:PTVE)

Olympiad Research LP acquired a new stake in Pactiv Evergreen Inc. (NASDAQ:PTVE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 86,505 shares of the company’s stock, valued at approximately $1,511,000. Pactiv Evergreen accounts for approximately 1.6% of Olympiad Research LP’s investment portfolio, making the stock its 11th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Pactiv Evergreen in the 3rd quarter valued at $132,000. Blue Trust Inc. grew its stake in Pactiv Evergreen by 1,590.7% in the 4th quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after purchasing an additional 7,492 shares during the period. Paloma Partners Management Co purchased a new position in shares of Pactiv Evergreen during the 3rd quarter valued at $178,000. Verition Fund Management LLC purchased a new position in shares of Pactiv Evergreen during the 3rd quarter valued at $215,000. Finally, SG Americas Securities LLC purchased a new position in shares of Pactiv Evergreen during the 4th quarter valued at $270,000. Institutional investors own 22.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PTVE. Jefferies Financial Group reaffirmed a “hold” rating and set a $18.00 price target (up previously from $15.00) on shares of Pactiv Evergreen in a research report on Wednesday, December 18th. UBS Group cut Pactiv Evergreen from a “buy” rating to a “neutral” rating and upped their price target for the company from $16.00 to $18.00 in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $18.00 price target (up previously from $14.00) on shares of Pactiv Evergreen in a research report on Thursday, December 19th. Finally, Citigroup reaffirmed a “neutral” rating and set a $18.00 price target (up previously from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.33.

Pactiv Evergreen Price Performance

PTVE stock opened at $17.83 on Friday. The firm has a 50 day moving average of $17.61 and a 200-day moving average of $14.03. The company has a current ratio of 1.93, a quick ratio of 1.04 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $3.20 billion, a P/E ratio of -19.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.24. Pactiv Evergreen Inc. has a 12 month low of $8.83 and a 12 month high of $17.86.

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.