Traders Purchase Large Volume of Ranpak Call Options (NYSE:PACK)

Ranpak Holdings Corp. (NYSE:PACK) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 2,616 call options on the stock. This represents an increase of approximately 1,291% compared to the average volume of 188 call options.

Shares of NYSE:PACK opened at $32.22 on Friday. The company has a 50 day moving average price of $37.51 and a 200 day moving average price of $31.84. Ranpak has a 1-year low of $15.00 and a 1-year high of $42.97. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.36 and a current ratio of 2.78. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -402.70 and a beta of 1.10.

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

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

In other Ranpak news, Director Kurt Zumwalt sold 6,885 shares of the firm’s stock in a transaction that occurred on Monday, January 10th. The shares were sold at an average price of $34.15, for a total value of $235,122.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric Laurensse sold 16,304 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $38.79, for a total transaction of $632,432.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,090 shares of company stock worth $1,078,221. 8.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC boosted its stake in Ranpak by 4.1% in the 3rd quarter. Voya Investment Management LLC now owns 13,837 shares of the company’s stock worth $371,000 after purchasing an additional 546 shares during the period. Advisor Group Holdings Inc. boosted its position in Ranpak by 36.4% during the second quarter. Advisor Group Holdings Inc. now owns 2,517 shares of the company’s stock valued at $62,000 after purchasing an additional 672 shares during the last quarter. TownSquare Capital LLC grew its stake in Ranpak by 9.5% in the third quarter. TownSquare Capital LLC now owns 10,451 shares of the company’s stock valued at $280,000 after purchasing an additional 904 shares in the last quarter. CNA Financial Corp grew its stake in Ranpak by 2.2% in the second quarter. CNA Financial Corp now owns 41,857 shares of the company’s stock valued at $1,048,000 after purchasing an additional 920 shares in the last quarter. Finally, UBS Group AG grew its stake in Ranpak by 30.9% in the third quarter. UBS Group AG now owns 4,131 shares of the company’s stock valued at $112,000 after purchasing an additional 974 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.

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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