Party City Holdco (NYSE:PRTY) Shares Up 5.1%

Party City Holdco Inc (NYSE:PRTY)’s share price shot up 5.1% during trading on Thursday . The stock traded as high as $6.05 and last traded at $6.00, 2,066,230 shares were traded during trading. An increase of 16% from the average session volume of 1,786,201 shares. The stock had previously closed at $5.71.

Several brokerages have recently commented on PRTY. Morgan Stanley reduced their price objective on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Bank of America set a $10.00 price objective on Party City Holdco and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. reduced their price objective on Party City Holdco from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Zacks Investment Research lowered Party City Holdco from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Finally, Goldman Sachs Group upgraded Party City Holdco from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $10.00 to $8.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $10.92.

The firm has a 50-day moving average of $5.19 and a 200-day moving average of $7.04. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.30 and a current ratio of 1.23. The firm has a market capitalization of $561.45 million, a P/E ratio of 3.77, a price-to-earnings-growth ratio of 0.31 and a beta of 1.38.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.16). Party City Holdco had a return on equity of 12.73% and a net margin of 4.67%. The company had revenue of $563.90 million for the quarter, compared to the consensus estimate of $572.14 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. Party City Holdco’s revenue was up .5% compared to the same quarter last year. Equities analysts anticipate that Party City Holdco Inc will post 1.28 EPS for the current fiscal year.

In other Party City Holdco news, CEO James M. Harrison acquired 125,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $4.53 per share, for a total transaction of $566,250.00. Following the transaction, the chief executive officer now owns 114,074 shares in the company, valued at $516,755.22. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael A. Correale acquired 24,300 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $100,359.00. Following the completion of the transaction, the chief financial officer now owns 114,481 shares in the company, valued at approximately $472,806.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 153,855 shares of company stock worth $686,514. 6.47% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Party City Holdco in the 2nd quarter worth approximately $42,000. Marshall Wace North America L.P. grew its position in shares of Party City Holdco by 20.3% in the 1st quarter. Marshall Wace North America L.P. now owns 12,865 shares of the specialty retailer’s stock worth $102,000 after buying an additional 2,174 shares during the last quarter. Resources Investment Advisors LLC. bought a new stake in shares of Party City Holdco in the 2nd quarter worth approximately $110,000. Commonwealth Bank of Australia grew its position in shares of Party City Holdco by 62.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock worth $114,000 after buying an additional 6,000 shares during the last quarter. Finally, Weiss Asset Management LP grew its position in shares of Party City Holdco by 10.8% in the 1st quarter. Weiss Asset Management LP now owns 16,058 shares of the specialty retailer’s stock worth $128,000 after buying an additional 1,568 shares during the last quarter.

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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