Party City Holdco Inc (NYSE:PRTY) Director Gerald C. Rittenberg sold 100,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $14.00, for a total value of $1,400,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Party City Holdco Inc (NYSE PRTY) opened at $15.50 on Friday. The firm has a market capitalization of $1,879.32, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 0.43 and a beta of 2.71. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. Party City Holdco Inc has a 1-year low of $9.50 and a 1-year high of $17.05.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $560.11 million during the quarter, compared to analysts’ expectations of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. equities research analysts expect that Party City Holdco Inc will post 1.21 earnings per share for the current fiscal year.
Party City Holdco announced that its board has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
PRTY has been the subject of several research analyst reports. Zacks Investment Research upgraded Party City Holdco from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Saturday, September 16th. ValuEngine upgraded Party City Holdco from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. BMO Capital Markets upgraded Party City Holdco from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $11.20 to $16.00 in a research report on Tuesday, October 24th. Morgan Stanley cut their price target on Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. initiated coverage on Party City Holdco in a report on Monday, November 13th. They set an “overweight” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.43.
Several large investors have recently bought and sold shares of PRTY. Parallax Volatility Advisers L.P. bought a new stake in shares of Party City Holdco in the 2nd quarter valued at approximately $127,000. SG Americas Securities LLC bought a new stake in shares of Party City Holdco in the 3rd quarter valued at approximately $176,000. Pacad Investment Ltd. lifted its stake in shares of Party City Holdco by 6.1% in the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after purchasing an additional 700 shares during the last quarter. Voya Investment Management LLC bought a new stake in shares of Party City Holdco in the 2nd quarter valued at approximately $202,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Party City Holdco in the 3rd quarter valued at approximately $327,000.
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Party City Holdco Company Profile
Party City Holdco Inc is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc (PCHI).
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