Monarch Partners Asset Management LLC Takes Position in Party City Holdco Inc. (PRTY)

Monarch Partners Asset Management LLC acquired a new position in shares of Party City Holdco Inc. (NYSE:PRTY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 564,780 shares of the specialty retailer’s stock, valued at approximately $8,839,000. Monarch Partners Asset Management LLC owned about 0.47% of Party City Holdco as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 worth $6,383,000 after buying an additional 20,548 shares in the last quarter. 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 worth $6,333,000 after buying an additional 330,996 shares in the last quarter. 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 worth $498,000 after buying an additional 18,700 shares in the last quarter. 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 worth $703,000 after buying an additional 1,568 shares in the last quarter. 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 worth $163,000 after buying an additional 15,618 shares in the last quarter. Institutional investors own 99.98% of the company’s stock.

Party City Holdco Inc. (PRTY) opened at 14.10 on Friday. Party City Holdco Inc. has a 52 week low of $12.65 and a 52 week high of $19.10. The stock’s 50 day moving average is $14.90 and its 200-day moving average is $14.93. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.57 and a beta of 2.69.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $545.59 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Party City Holdco Inc. will post $1.28 EPS for the current year.

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PRTY has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, May 10th. BidaskClub lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. ValuEngine lowered shares of Party City Holdco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price objective on shares of Party City Holdco and gave the company a “hold” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.00.

In related news, Director Gerald C. Rittenberg sold 70,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $14.68, for a total value of $1,027,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James M. Harrison acquired 65,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $14.50 per share, for a total transaction of $942,500.00. Following the acquisition, the chief executive officer now owns 969 shares in the company, valued at $14,050.50. The disclosure for this purchase can be found here. 5.02% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Party City Holdco (NYSE:PRTY)

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