Party City Holdco Inc. (PRTY) Director Sells $1,027,600.00 in Stock
Party City Holdco Inc. (NYSE:PRTY) Director Gerald C. Rittenberg sold 70,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $14.68, for a total transaction of $1,027,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Party City Holdco Inc. (NYSE PRTY) opened at 14.10 on Friday. The company has a market cap of $1.69 billion, a PE ratio of 14.57 and a beta of 2.69. Party City Holdco Inc. has a 52-week low of $12.65 and a 52-week high of $19.10. The stock’s 50 day moving average is $14.90 and its 200 day moving average is $14.93.
Party City Holdco (NYSE:PRTY) last released its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Party City Holdco had a return on equity of 13.97% and a net margin of 4.97%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $545.59 million. During the same quarter in the prior year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Party City Holdco Inc. will post $1.28 EPS for the current year.
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A number of equities research analysts have commented on PRTY shares. Zacks Investment Research upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, May 10th. BMO Capital Markets set a $16.00 target price on shares of Party City Holdco and gave the stock a “hold” rating in a research note on Thursday, August 3rd. ValuEngine cut shares of Party City Holdco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded shares of Party City Holdco from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Party City Holdco presently has an average rating of “Hold” and an average target price of $17.00.
Several hedge funds and other institutional investors have recently made changes to their positions in PRTY. Legal & General Group Plc increased its position in shares of Party City Holdco by 14.0% in the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 881 shares during the last quarter. Highbridge Capital Management LLC increased its position in shares of Party City Holdco by 380.9% in the fourth quarter. Highbridge Capital Management LLC now owns 11,518 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 15,618 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Party City Holdco during the first quarter valued at $170,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Party City Holdco during the first quarter valued at $171,000. Finally, Pacad Investment Ltd. increased its position in shares of Party City Holdco by 6.1% in the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after buying an additional 700 shares during the last quarter. 99.98% of the stock is owned by institutional investors and hedge funds.
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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