Ranpak Sees Unusually High Options Volume (NYSE: PACK)

Ranpak Holdings Corp. (NYSE:PACK) saw unusually heavy options trading activity on Thursday. Traders acquired 4,643 put options on the company. This represents a 998% increase over the average daily volume of 423 puts.

Shares of NYSE PACK traded down $2.18 during Thursday’s midday session, hitting $23.96. The company’s shares had a trading volume of 23,514 shares, compared to an average volume of 588,847. The company has a debt ratio of 0.64, a quick ratio of 2.36 and a current ratio of 2, 78. Ranpak has a 1-year minimum of $17.63 and a 1-year maximum of $42.97. The stock has a 50-day moving average of $33.95 and a 200-day moving average of $32.10. The stock has a market capitalization of $1.95 billion, a P/E ratio of -305.34 and a beta of 1.11.

Separately, Robert W. Baird raised his price target on Ranpak shares from $30.00 to $38.00 and gave the company an “outperform” rating in a Friday, Oct. 29 research report. They noted that the move was a review call. One financial analyst has assigned the stock a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $31.33.

In addition, director Eric Laurensse sold 16,304 shares in a transaction dated Monday, November 8. The shares were sold at an average price of $38.79, for a total value of $632,432.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Kurt Zumwalt sold 6,885 shares in a trade dated Monday, January 10. The shares were sold at an average price of $34.15, for a total transaction of $235,122.75. The disclosure of this sale can be found here. Company insiders own 8.50% of the company’s shares.

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This emerging biotechnology company is working to create value for shareholders!

Several institutional investors and hedge funds have recently changed their positions in PACK. Advisor Group Holdings Inc. increased its holdings of Ranpak shares by 36.4% in the second quarter. Advisor Group Holdings Inc. now owns 2,517 shares of the company valued at $62,000 after purchasing an additional 672 shares during the period. Susquehanna International Group LLP increased its holdings of Ranpak shares by 19.4% in the second quarter. Susquehanna International Group LLP now owns 13,568 shares of the company valued at $340,000 after purchasing an additional 2,205 shares during the period. Deutsche Bank AG increased its holdings of Ranpak shares by 10.4% in the second quarter. Deutsche Bank AG now owns 20,753 shares of the company valued at $519,000 after purchasing an additional 1,953 shares during the period. BlackRock Inc. increased its holdings of Ranpak shares by 7.1% in the second quarter. BlackRock Inc. now owns 2,618,921 shares of the company valued at $65,550,000 after purchasing an additional 173,013 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings of Ranpak shares by 66.1% in the second quarter. Bank of New York Mellon Corp now owns 176,694 shares of the company valued at $4,422,000 after purchasing an additional 70,288 shares during the period. 96.13% of the shares are held by hedge funds and other institutional investors.

Ranpak Company Profile

Ranpak Holdings Corp. is dedicated to providing 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 protection systems that convert paper to fill voids in secondary packaging and protect items; Padding protection systems, which turn paper into padding pads; and Wrapping protective systems that create pads or nets of paper to wrap and protect fragile items, as well as to line boxes and provide separation when shipping various items; Cold chain, box lining and retail.

Further reading: Why are analyst ratings important in stock trading?

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