BMO Capital Markets set a $20.00 price objective on Party City Holdco (NYSE:PRTY) in a research report released on Monday morning. The brokerage currently has a buy rating on the specialty retailer’s stock.
Several other equities analysts also recently issued reports on the stock. Telsey Advisory Group upped their price objective on shares of Party City Holdco from $16.00 to $17.00 and gave the company an outperform rating in a research note on Saturday, December 30th. Morgan Stanley reduced their price objective on shares of Party City Holdco from $15.50 to $14.00 and set an equal weight rating on the stock in a research note on Tuesday, November 14th. JPMorgan Chase & Co. initiated coverage on shares of Party City Holdco in a research note on Monday, November 13th. They set an overweight rating and a $14.00 price target on the stock. Bank of America increased their price target on shares of Party City Holdco from $13.50 to $15.50 and gave the stock a neutral rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research raised shares of Party City Holdco from a sell rating to a hold rating in a research note on Friday, December 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Party City Holdco currently has an average rating of Hold and a consensus price target of $17.50.
Party City Holdco (NYSE:PRTY) opened at $15.65 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.51 and a current ratio of 1.64. The stock has a market cap of $1,867.39, a P/E ratio of 8.55, a P/E/G ratio of 0.40 and a beta of 2.37. Party City Holdco has a one year low of $9.50 and a one year high of $17.05.
In other news, Director Gerald C. Rittenberg sold 50,000 shares of the firm’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $14.00, for a total value of $700,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder International Corp/Ma Advent sold 19,841,694 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $12.20, for a total transaction of $242,068,666.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,041,694 shares of company stock worth $244,868,667. 5.02% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new position in shares of Party City Holdco in the 4th quarter valued at $191,000. Millennium Management LLC raised its stake in shares of Party City Holdco by 465.1% in the 4th quarter. Millennium Management LLC now owns 226,618 shares of the specialty retailer’s stock valued at $3,161,000 after acquiring an additional 186,519 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Party City Holdco in the 4th quarter valued at $245,000. Two Sigma Investments LP purchased a new position in shares of Party City Holdco in the 4th quarter valued at $1,578,000. Finally, Sapience Investments LLC raised its stake in shares of Party City Holdco by 35.4% in the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock valued at $19,658,000 after acquiring an additional 368,050 shares during the period. 83.62% of the stock is currently owned by institutional investors and hedge funds.
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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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