Party City Holdco (NYSE:PRTY) Trading Up 5.6%

Party City Holdco Inc (NYSE:PRTY)’s stock price was up 5.6% during trading on Tuesday . The stock traded as high as $1.97 and last traded at $1.87, approximately 7,332,270 shares traded hands during mid-day trading. An increase of 206% from the average daily volume of 2,395,303 shares. The stock had previously closed at $1.77.

Several equities research analysts recently commented on PRTY shares. ValuEngine raised Party City Holdco from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. TheStreet cut Party City Holdco from a “c-” rating to a “d” rating in a research note on Friday, November 8th. Goldman Sachs Group cut Party City Holdco from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. Bank of America set a $10.00 target price on Party City Holdco and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research raised Party City Holdco from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Party City Holdco has an average rating of “Hold” and an average price target of $7.13.

The firm has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $5.48. The company has a market cap of $181.36 million, a price-to-earnings ratio of 1.23, a PEG ratio of 0.22 and a beta of 1.14. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.25 and a quick ratio of 0.46.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.29). Party City Holdco had a positive return on equity of 10.04% and a negative net margin of 6.82%. The firm had revenue of $540.20 million for the quarter, compared to analysts’ expectations of $551.73 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Research analysts anticipate that Party City Holdco Inc will post 0.84 EPS for the current fiscal year.

In other news, CEO James M. Harrison purchased 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $2.32 per share, for a total transaction of $232,000.00. Following the completion of the transaction, the chief executive officer now directly owns 114,074 shares in the company, valued at approximately $264,651.68. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Norman S. Matthews bought 212,500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average price of $2.32 per share, with a total value of $493,000.00. Following the completion of the acquisition, the director now owns 406,989 shares of the company’s stock, valued at approximately $944,214.48. The disclosure for this purchase can be found here. Company insiders own 6.47% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in Party City Holdco in the second quarter valued at $42,000. Parallax Volatility Advisers L.P. purchased a new position in Party City Holdco in the second quarter valued at $62,000. Resources Investment Advisors LLC. purchased a new position in Party City Holdco in the second quarter valued at $110,000. Commonwealth Bank of Australia boosted its holdings in Party City Holdco by 62.5% in the second quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 6,000 shares during the period. Finally, United Services Automobile Association boosted its holdings in Party City Holdco by 19.0% in the second quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 3,220 shares during the period.

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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