Party City Holdco (NYSE:PRTY) Shares Down 8.7%

Party City Holdco Inc (NYSE:PRTY)’s share price traded down 8.7% during mid-day trading on Thursday . The stock traded as low as $1.68 and last traded at $1.68, 3,432,220 shares traded hands during mid-day trading. An increase of 45% from the average session volume of 2,364,717 shares. The stock had previously closed at $1.84.

A number of equities analysts have recently commented on PRTY shares. Goldman Sachs Group downgraded shares of Party City Holdco from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. TheStreet downgraded Party City Holdco from a “c-” rating to a “d” rating in a research report on Friday, November 8th. ValuEngine raised shares of Party City Holdco from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Party City Holdco presently has an average rating of “Hold” and a consensus price target of $7.13.

The firm has a market cap of $173.81 million, a P/E ratio of 1.06, a P/E/G ratio of 0.24 and a beta of 1.16. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.46 and a current ratio of 1.25. The firm has a fifty day moving average of $3.86 and a 200-day moving average of $5.70.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.29). Party City Holdco had a positive return on equity of 10.04% and a negative net margin of 6.82%. The company had revenue of $540.20 million for the quarter, compared to the consensus estimate of $551.73 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. Party City Holdco’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Party City Holdco Inc will post 0.84 earnings per share for the current year.

In other Party City Holdco news, CEO James M. Harrison purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were bought at an average price of $2.32 per share, with a total value of $232,000.00. Following the completion of the acquisition, the chief executive officer now owns 114,074 shares in the company, valued at approximately $264,651.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Norman S. Matthews acquired 212,500 shares of Party City Holdco stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $2.32 per share, with a total value of $493,000.00. Following the completion of the transaction, the director now owns 406,989 shares of the company’s stock, valued at approximately $944,214.48. The disclosure for this purchase can be found here. Insiders own 6.42% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new stake in Party City Holdco in the 2nd quarter valued at approximately $42,000. Parallax Volatility Advisers L.P. bought a new position in shares of Party City Holdco in the second quarter worth $62,000. Resources Investment Advisors LLC. bought a new position in shares of Party City Holdco in the second quarter worth $110,000. Commonwealth Bank of Australia increased its holdings in shares of Party City Holdco by 62.5% during the second quarter. Commonwealth Bank of Australia now owns 15,600 shares of the specialty retailer’s stock valued at $114,000 after purchasing an additional 6,000 shares during the period. Finally, United Services Automobile Association increased its holdings in shares of Party City Holdco by 19.0% during the second quarter. United Services Automobile Association now owns 20,182 shares of the specialty retailer’s stock valued at $148,000 after purchasing an additional 3,220 shares during the period.

About Party City Holdco (NYSE:PRTY)

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, novelties, gifts, and stationery.

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