King Luther Capital Management Corp increased its position in shares of Party City Holdco Inc (NYSE:PRTY) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,400 shares of the specialty retailer’s stock after purchasing an additional 42,000 shares during the period. King Luther Capital Management Corp owned approximately 0.26% of Party City Holdco worth $3,447,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PRTY. Laurion Capital Management LP purchased a new stake in Party City Holdco in the 2nd quarter valued at about $27,562,000. BlackRock Inc. boosted its position in Party City Holdco by 65.9% in the 3rd quarter. BlackRock Inc. now owns 4,084,707 shares of the specialty retailer’s stock valued at $55,347,000 after buying an additional 1,622,584 shares during the period. Jennison Associates LLC boosted its position in Party City Holdco by 56.7% in the 2nd quarter. Jennison Associates LLC now owns 3,484,921 shares of the specialty retailer’s stock valued at $53,145,000 after buying an additional 1,261,206 shares during the period. FMR LLC boosted its position in Party City Holdco by 52.4% in the 3rd quarter. FMR LLC now owns 2,617,200 shares of the specialty retailer’s stock valued at $35,463,000 after buying an additional 899,800 shares during the period. Finally, Voya Investment Management LLC boosted its position in Party City Holdco by 40.5% in the 2nd quarter. Voya Investment Management LLC now owns 1,325,243 shares of the specialty retailer’s stock valued at $20,210,000 after buying an additional 381,840 shares during the period.
Shares of PRTY opened at $10.39 on Friday. Party City Holdco Inc has a fifty-two week low of $8.24 and a fifty-two week high of $16.95. The company has a market capitalization of $1.03 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.33 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.30 and a quick ratio of 0.36.
Party City Holdco (NYSE:PRTY) last announced its quarterly earnings results on Thursday, November 8th. The specialty retailer reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.09). Party City Holdco had a return on equity of 14.86% and a net margin of 8.70%. The business had revenue of $553.00 million during the quarter, compared to analysts’ expectations of $591.77 million. During the same period in the previous year, the company posted $0.13 EPS. Party City Holdco’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities analysts expect that Party City Holdco Inc will post 1.62 EPS for the current year.
PRTY has been the subject of several research reports. Credit Suisse Group set a $16.00 price objective on shares of Party City Holdco and gave the company a “buy” rating in a research report on Friday, November 9th. Deutsche Bank set a $12.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Friday, November 9th. JPMorgan Chase & Co. set a $19.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a research report on Monday, October 1st. TheStreet cut shares of Party City Holdco from a “b-” rating to a “c” rating in a research report on Thursday, October 11th. Finally, Morgan Stanley lowered their price target on shares of Party City Holdco from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.33.
In related news, Director Gerald C. Rittenberg sold 50,000 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $14.08, for a total transaction of $704,000.00. Following the completion of the transaction, the director now owns 3,800 shares in the company, valued at approximately $53,504. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Peter Harrison acquired 4,900 shares of Party City Holdco stock in a transaction that occurred on Monday, November 12th. The shares were purchased at an average price of $10.37 per share, with a total value of $50,813.00. Following the purchase, the insider now owns 13,884 shares in the company, valued at $143,977.08. The disclosure for this purchase can be found here. Insiders bought a total of 106,600 shares of company stock valued at $1,115,078 in the last ninety days. Corporate insiders own 6.47% of the company’s stock.
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Party City Holdco Profile
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 and novelties, stationery, and decorations.
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