Michael A. Correale Purchases 5,000 Shares of Party City Holdco Inc. (PRTY) Stock

Party City Holdco Inc. (NYSE:PRTY) insider Michael A. Correale purchased 5,000 shares of the stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the transaction, the insider now owns 79,756 shares of the company’s stock, valued at $968,237.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Party City Holdco Inc. (NYSE PRTY) traded up $0.40 during trading on Friday, reaching $12.40. The company’s stock had a trading volume of 782,553 shares, compared to its average volume of 472,956. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. Party City Holdco Inc. has a 52-week low of $9.50 and a 52-week high of $17.70. The firm has a market cap of $1,440.00 and a P/E ratio of 9.75.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. The company had revenue of $560.11 million for the quarter, compared to analysts’ expectations of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. analysts forecast that Party City Holdco Inc. will post 1.23 earnings per share for the current fiscal year.

Party City Holdco declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC lifted its position in Party City Holdco by 36.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,324,866 shares of the specialty retailer’s stock valued at $45,052,000 after acquiring an additional 890,188 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Party City Holdco by 5.4% during the 3rd quarter. Bamco Inc. NY now owns 2,565,000 shares of the specialty retailer’s stock worth $34,756,000 after purchasing an additional 131,500 shares during the last quarter. Vanguard Group Inc. grew its stake in Party City Holdco by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,405,039 shares of the specialty retailer’s stock valued at $37,639,000 after buying an additional 82,978 shares in the last quarter. Jennison Associates LLC grew its stake in Party City Holdco by 13.7% in the 2nd quarter. Jennison Associates LLC now owns 1,952,887 shares of the specialty retailer’s stock valued at $30,563,000 after buying an additional 235,322 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in Party City Holdco by 16.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 1,412,261 shares of the specialty retailer’s stock valued at $19,136,000 after buying an additional 194,516 shares in the last quarter.

A number of brokerages have recently issued reports on PRTY. BidaskClub cut Party City Holdco from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Party City Holdco from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday, September 8th. J P Morgan Chase & Co initiated coverage on Party City Holdco in a research note on Monday, November 13th. They set an “overweight” rating and a $14.00 target price for the company. Finally, ValuEngine cut Party City Holdco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.60.

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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