Party City Holdco (NYSE:PRTY) Trading Down 5.4%

Party City Holdco Inc. (NYSE:PRTY) shares dropped 5.4% during trading on Thursday . The company traded as low as $5.95 and last traded at $6.15. Approximately 4,078,711 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 6,468,054 shares. The stock had previously closed at $6.50.

PRTY has been the topic of a number of recent research reports. Stephens increased their price objective on Party City Holdco from $3.00 to $5.40 in a research report on Thursday, December 10th. ValuEngine upgraded Party City Holdco from a “hold” rating to a “buy” rating in a research report on Saturday, November 21st. Finally, BidaskClub downgraded Party City Holdco from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.47.

The stock has a 50 day moving average price of $5.15 and a two-hundred day moving average price of $2.90. The company has a market cap of $680.47 million, a price-to-earnings ratio of -0.47 and a beta of 3.16.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Monday, November 9th. The specialty retailer reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.56. The company had revenue of $533.78 million for the quarter, compared to the consensus estimate of $484.31 million. Party City Holdco had a negative return on equity of 23.15% and a negative net margin of 62.97%. Research analysts predict that Party City Holdco Inc. will post -0.98 earnings per share for the current fiscal year.

In other Party City Holdco news, Director William S. Creekmuir acquired 29,412 shares of the company’s stock in a transaction that occurred on Friday, November 13th. The shares were acquired at an average price of $3.37 per share, with a total value of $99,118.44. Following the purchase, the director now owns 153,244 shares of the company’s stock, valued at approximately $516,432.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Clifford Sosin acquired 850,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The shares were acquired at an average cost of $1.85 per share, for a total transaction of $1,572,500.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,620,536 shares of company stock worth $8,343,988 in the last ninety days. 6.28% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. acquired a new stake in shares of Party City Holdco in the 3rd quarter valued at about $33,000. Nantahala Capital Management LLC acquired a new stake in shares of Party City Holdco in the 3rd quarter valued at about $2,026,000. Public Employees Retirement System of Ohio raised its stake in shares of Party City Holdco by 6.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 48,576 shares of the specialty retailer’s stock valued at $126,000 after purchasing an additional 2,785 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Party City Holdco in the 3rd quarter valued at about $118,000. Finally, JS Capital Management LLC acquired a new stake in shares of Party City Holdco in the 3rd quarter valued at about $475,000. 42.06% of the stock is currently owned by institutional investors and hedge funds.

Party City Holdco Company Profile (NYSE:PRTY)

Party City Holdco Inc, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery.

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