Party City Holdco Inc. (PRTY) CEO Acquires $225,400.00 in Stock
Party City Holdco Inc. (NYSE:PRTY) CEO James M. Harrison bought 20,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $11.27 per share, with a total value of $225,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Party City Holdco Inc. (PRTY) traded up $0.05 during mid-day trading on Tuesday, reaching $11.25. 1,178,300 shares of the company traded hands, compared to its average volume of 465,757. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43. Party City Holdco Inc. has a 1 year low of $9.50 and a 1 year high of $17.70. The company has a market cap of $1,330.00 and a PE ratio of 9.41.
Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The firm had revenue of $560.11 million during the quarter, compared to analysts’ expectations of $587.74 million. During the same quarter in the previous year, the company posted $0.12 EPS. Party City Holdco’s revenue was up .6% on a year-over-year basis. equities research analysts anticipate that Party City Holdco Inc. will post 1.25 earnings per share for the current year.
Party City Holdco declared that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently issued reports on the stock. BidaskClub cut shares of Party City Holdco from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Morgan Stanley cut their target price on shares of Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. BMO Capital Markets set a $16.00 target price on shares of Party City Holdco and gave the company a “hold” rating in a research note on Thursday, August 3rd. J P Morgan Chase & Co assumed coverage on shares of Party City Holdco in a research note on Monday. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.60.
Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Party City Holdco by 14.0% in the 1st quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 881 shares during the last quarter. Parallax Volatility Advisers L.P. bought a new position in Party City Holdco in the 2nd quarter worth approximately $127,000. Tudor Investment Corp ET AL bought a new stake in shares of Party City Holdco during the 1st quarter valued at $170,000. Pacad Investment Ltd. raised its position in shares of Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock valued at $189,000 after acquiring an additional 700 shares during the last quarter. Finally, Voya Investment Management LLC bought a new stake in shares of Party City Holdco during the 2nd quarter valued at $202,000.
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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