Party City Holdco Inc (NYSE:PRTY) CFO Michael A. Correale Purchases 24,300 Shares of Stock

Party City Holdco Inc (NYSE:PRTY) CFO Michael A. Correale purchased 24,300 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $4.13 per share, for a total transaction of $100,359.00. Following the completion of the transaction, the chief financial officer now owns 114,481 shares in the company, valued at $472,806.53. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

NYSE PRTY traded up $0.28 during mid-day trading on Friday, reaching $4.49. The stock had a trading volume of 124,426 shares, compared to its average volume of 2,599,739. Party City Holdco Inc has a 1 year low of $4.07 and a 1 year high of $15.75. The stock has a market cap of $407.02 million, a PE ratio of 2.76, a price-to-earnings-growth ratio of 0.22 and a beta of 1.30. The company has a fifty day moving average price of $6.19 and a 200 day moving average price of $8.01. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.23 and a quick ratio of 0.28.

Party City Holdco (NYSE:PRTY) last announced its quarterly earnings data on Thursday, August 8th. The specialty retailer reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.16). Party City Holdco had a return on equity of 12.73% and a net margin of 4.67%. The firm had revenue of $563.90 million during the quarter, compared to analysts’ expectations of $572.14 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Party City Holdco’s revenue was up .5% on a year-over-year basis. As a group, equities research analysts expect that Party City Holdco Inc will post 1.29 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday. Goldman Sachs Group upgraded shares of Party City Holdco from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $10.00 to $8.00 in a report on Wednesday, July 24th. Bank of America decreased their price objective on shares of Party City Holdco from $14.50 to $10.00 and set a “buy” rating for the company in a report on Friday, August 9th. Zacks Investment Research lowered shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Party City Holdco from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $10.92.

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in Party City Holdco by 67.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,537 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 1,024 shares during the last quarter. Bank of Montreal Can purchased a new stake in Party City Holdco during the 2nd quarter valued at $42,000. Investors Research Corp purchased a new stake in Party City Holdco during the 1st quarter valued at $71,000. Legal & General Group Plc raised its stake in Party City Holdco by 14.7% during the 4th quarter. Legal & General Group Plc now owns 9,991 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 1,284 shares during the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in Party City Holdco during the 1st quarter valued at $79,000.

About Party City Holdco

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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