Millennium Management LLC increased its holdings in Party City Holdco Inc (NYSE:PRTY) by 465.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 226,618 shares of the specialty retailer’s stock after purchasing an additional 186,519 shares during the quarter. Millennium Management LLC owned 0.19% of Party City Holdco worth $3,161,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of PRTY. ZWJ Investment Counsel Inc. purchased a new position in Party City Holdco in the 4th quarter worth $167,000. Stone Ridge Asset Management LLC purchased a new position in Party City Holdco in the 4th quarter worth $168,000. SG Americas Securities LLC bought a new stake in Party City Holdco in the 3rd quarter worth $176,000. Jefferies Group LLC bought a new stake in Party City Holdco in the 4th quarter worth $229,000. Finally, Two Sigma Securities LLC bought a new stake in Party City Holdco in the 4th quarter worth $245,000. Institutional investors own 83.63% of the company’s stock.
A number of equities research analysts have issued reports on PRTY shares. Bank of America reissued a “neutral” rating and issued a $15.50 price target (up previously from $13.50) on shares of Party City Holdco in a report on Wednesday, December 27th. Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Telsey Advisory Group raised their price target on shares of Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Saturday, December 30th. BMO Capital Markets set a $18.00 price target on shares of Party City Holdco and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Stephens reissued a “buy” rating and issued a $23.00 price target on shares of Party City Holdco in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.29.
Party City Holdco (NYSE:PRTY) last announced its earnings results on Friday, March 9th. The specialty retailer reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $789.60 million for the quarter, compared to analyst estimates of $781.30 million. Party City Holdco had a net margin of 9.08% and a return on equity of 14.14%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. research analysts expect that Party City Holdco Inc will post 1.81 earnings per share for the current fiscal year.
In other news, Director Gerald C. Rittenberg sold 239,000 shares of Party City Holdco stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $15.38, for a total transaction of $3,675,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.02% of the company’s stock.
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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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