Stock Traders Buy High Volume of Party City Holdco Put Options (PRTY)

Party City Holdco Inc (NYSE:PRTY) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 5,312 put options on the stock. This is an increase of 924% compared to the average volume of 519 put options.

In other news, Director Gerald C. Rittenberg sold 50,000 shares of the stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $14.00, for a total transaction of $700,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael A. Correale purchased 5,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the completion of the acquisition, the insider now directly owns 79,756 shares in the company, valued at $968,237.84. The disclosure for this purchase can be found here. Insiders have sold a total of 22,642,979 shares of company stock worth $277,826,948 over the last three months. Insiders own 5.02% of the company’s stock.

Large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC grew its position in shares of Party City Holdco by 36.6% during the third quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock valued at $45,052,000 after purchasing an additional 890,188 shares in the last quarter. Rubric Capital Management LP grew its position in shares of Party City Holdco by 100.0% during the third quarter. Rubric Capital Management LP now owns 782,135 shares of the specialty retailer’s stock valued at $10,598,000 after purchasing an additional 390,970 shares in the last quarter. Citadel Advisors LLC grew its position in shares of Party City Holdco by 145.6% during the third quarter. Citadel Advisors LLC now owns 479,027 shares of the specialty retailer’s stock valued at $6,491,000 after purchasing an additional 283,987 shares in the last quarter. Rice Hall James & Associates LLC grew its position in shares of Party City Holdco by 18.5% during the third quarter. Rice Hall James & Associates LLC now owns 1,377,866 shares of the specialty retailer’s stock valued at $18,670,000 after purchasing an additional 215,136 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in shares of Party City Holdco by 16.0% during the third quarter. Peregrine Capital Management LLC now owns 1,412,261 shares of the specialty retailer’s stock valued at $19,136,000 after purchasing an additional 194,516 shares in the last quarter.

Party City Holdco (PRTY) opened at $13.95 on Friday. Party City Holdco has a twelve month low of $9.50 and a twelve month high of $17.05. The company has a market capitalization of $1,660.00 and a price-to-earnings ratio of 14.53. 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 (NYSE:PRTY) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.13 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.13. The business had revenue of $560.11 million for the quarter, compared to analysts’ expectations of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. analysts anticipate that Party City Holdco will post 1.21 earnings per share for the current year.

Party City Holdco announced that its board has approved a share buyback plan on Thursday, November 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of equities analysts recently commented on PRTY shares. Bank of America set a $16.00 target price on Party City Holdco and gave the stock a “hold” rating in a report on Thursday, December 28th. Zacks Investment Research raised Party City Holdco from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Saturday, September 16th. ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a report on Friday, October 13th. Morgan Stanley decreased their target price on Party City Holdco from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. Finally, BMO Capital Markets raised Party City Holdco from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.20 to $16.00 in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.86.

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Party City Holdco Company Profile

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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