Party City Holdco (NYSE:PRTY) Shares Down 8.7%

Shares of Party City Holdco Inc (NYSE:PRTY) traded down 8.7% on Thursday . The stock traded as low as $1.68 and last traded at $1.68, 3,432,220 shares traded hands during mid-day trading. An increase of 45% from the average session volume of 2,364,717 shares. The stock had previously closed at $1.84.

A number of equities research analysts have recently weighed in on the company. Bank of America set a $10.00 price target on Party City Holdco and gave the stock a “buy” rating in a research note on Friday, August 23rd. TheStreet cut Party City Holdco from a “c-” rating to a “d” rating in a research note on Friday, November 8th. ValuEngine upgraded Party City Holdco from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Telsey Advisory Group lowered shares of Party City Holdco from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $9.00 to $2.50 in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.13.

The firm has a market cap of $173.81 million, a price-to-earnings ratio of 1.06, a price-to-earnings-growth ratio of 0.24 and a beta of 1.16. The firm’s 50 day moving average is $3.86 and its 200-day moving average is $5.70. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.46 and a current ratio of 1.25.

Party City Holdco (NYSE:PRTY) last posted its earnings results on Thursday, November 7th. The specialty retailer reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $540.20 million for the quarter, compared to analyst estimates of $551.73 million. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts predict that Party City Holdco Inc will post 0.84 EPS for the current year.

In related news, Director Norman S. Matthews acquired 212,500 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $2.32 per share, with a total value of $493,000.00. Following the purchase, the director now owns 406,989 shares of the company’s stock, valued at $944,214.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James M. Harrison acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was bought at an average cost of $2.32 per share, for a total transaction of $232,000.00. Following the completion of the purchase, the chief executive officer now directly owns 114,074 shares in the company, valued at approximately $264,651.68. The disclosure for this purchase can be found here. 6.42% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Voloridge Investment Management LLC bought a new position in shares of Party City Holdco in the third quarter valued at approximately $162,000. Thompson Investment Management Inc. grew its stake in Party City Holdco by 59.3% in the 3rd quarter. Thompson Investment Management Inc. now owns 846,920 shares of the specialty retailer’s stock valued at $4,836,000 after buying an additional 315,255 shares during the last quarter. First Trust Advisors LP grew its stake in Party City Holdco by 8.3% in the 3rd quarter. First Trust Advisors LP now owns 437,796 shares of the specialty retailer’s stock valued at $2,500,000 after buying an additional 33,727 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Party City Holdco in the 3rd quarter valued at $571,000. Finally, California Public Employees Retirement System raised its holdings in Party City Holdco by 43.0% in the 3rd quarter. California Public Employees Retirement System now owns 26,077 shares of the specialty retailer’s stock worth $149,000 after acquiring an additional 7,844 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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