Party City Holdco (PRTY) Cut to “Hold” at ValuEngine
ValuEngine downgraded shares of Party City Holdco (NYSE:PRTY) from a buy rating to a hold rating in a research report report published on Wednesday morning.
A number of other equities analysts have also recently commented on the company. Morgan Stanley reduced their target price 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. Telsey Advisory Group increased their target price on Party City Holdco from $16.00 to $17.00 and gave the company an outperform rating in a report on Saturday, December 30th. 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 target price for the company. Bank of America increased their target price on Party City Holdco from $13.50 to $15.50 and gave the company a neutral rating in a report on Wednesday, December 27th. Finally, BMO Capital Markets set a $18.00 target price on Party City Holdco and gave the company a buy rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $17.25.
Party City Holdco (NYSE PRTY) opened at $15.65 on Wednesday. Party City Holdco has a fifty-two week low of $9.50 and a fifty-two week high of $17.05. The company has a market capitalization of $1,867.39, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.40 and a beta of 2.37. The company has a current ratio of 1.64, a quick ratio of 0.51 and a debt-to-equity ratio of 1.43.
In related news, major shareholder International Corp/Ma Advent sold 2,558,306 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $12.67, for a total value of $32,413,737.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jefferson M. Case sold 42,979 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $12.67, for a total value of $544,543.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,642,979 shares of company stock valued at $277,826,948. Insiders own 5.02% of the company’s stock.
Large investors have recently bought and sold shares of the stock. ZWJ Investment Counsel Inc. acquired a new stake in shares of Party City Holdco in the fourth quarter valued at approximately $167,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Party City Holdco in the fourth quarter valued at approximately $168,000. SG Americas Securities LLC acquired a new stake in shares of Party City Holdco in the third quarter valued at approximately $176,000. MetLife Investment Advisors LLC acquired a new stake in Party City Holdco during the fourth quarter worth $191,000. Finally, Voya Investment Management LLC acquired a new stake in Party City Holdco during the second quarter worth $202,000. 83.62% of the stock is owned by hedge funds and other institutional investors.
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About Party City Holdco
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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