James M. Harrison Acquires 65,000 Shares of Party City Holdco Inc (PRTY) Stock
Party City Holdco Inc (NYSE:PRTY) CEO James M. Harrison bought 65,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $942,500.00. Following the transaction, the chief executive officer now directly owns 969 shares in the company, valued at approximately $14,050.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Party City Holdco Inc (NYSE:PRTY) traded up 0.34% during mid-day trading on Tuesday, hitting $14.70. The stock had a trading volume of 400,050 shares. The stock has a market cap of $1.76 billion, a P/E ratio of 15.19 and a beta of 2.69. Party City Holdco Inc has a 52-week low of $12.65 and a 52-week high of $19.10. The firm has a 50-day moving average of $15.02 and a 200-day moving average of $14.94.
Party City Holdco (NYSE:PRTY) last posted its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $545.59 million. Party City Holdco had a return on equity of 9.69% and a net margin of 4.58%. Party City Holdco’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, analysts forecast that Party City Holdco Inc will post $1.28 EPS for the current fiscal year.
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PRTY has been the topic of several recent research reports. BidaskClub cut Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. ValuEngine cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet raised Party City Holdco from a “d+” rating to a “c-” rating in a research report on Tuesday, April 11th. Finally, BMO Capital Markets set a $16.00 price objective on Party City Holdco and gave the stock a “hold” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Party City Holdco has an average rating of “Hold” and an average target price of $17.00.
A number of institutional investors have recently bought and sold shares of PRTY. State Street Corp raised its position in Party City Holdco by 4.8% in the fourth quarter. State Street Corp now owns 449,574 shares of the specialty retailer’s stock valued at $6,383,000 after buying an additional 20,548 shares during the period. Dimensional Fund Advisors LP raised its position in Party City Holdco by 287.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,995 shares of the specialty retailer’s stock valued at $6,333,000 after buying an additional 330,996 shares during the period. Renaissance Technologies LLC raised its position in Party City Holdco by 114.0% in the fourth quarter. Renaissance Technologies LLC now owns 35,100 shares of the specialty retailer’s stock valued at $498,000 after buying an additional 18,700 shares during the period. Teachers Advisors LLC raised its position in Party City Holdco by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 49,486 shares of the specialty retailer’s stock valued at $703,000 after buying an additional 1,568 shares during the period. Finally, Highbridge Capital Management LLC raised its position in Party City Holdco by 380.9% in the fourth quarter. Highbridge Capital Management LLC now owns 11,518 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 15,618 shares during the period. 99.98% of the stock is currently owned by hedge funds and other institutional investors.
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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