Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Party City Holdco Inc (NYSE:PRTY) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,800 shares of the specialty retailer’s stock, valued at approximately $496,000.
Other institutional investors have also recently bought and sold shares of the company. Gargoyle Investment Advisor L.L.C. acquired a new position in Party City Holdco during the 1st quarter valued at about $156,000. Stone Ridge Asset Management LLC acquired a new position in Party City Holdco during the 4th quarter valued at about $168,000. MetLife Investment Advisors LLC acquired a new position in Party City Holdco during the 4th quarter valued at about $191,000. Koch Industries Inc. acquired a new position in Party City Holdco during the 1st quarter valued at about $234,000. Finally, Jefferies Group LLC acquired a new position in Party City Holdco during the 4th quarter valued at about $229,000.
In other news, major shareholder H. Lee Equity Fund Vi Thomas sold 12,000,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $15.00, for a total value of $180,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.47% of the company’s stock.
A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Party City Holdco from an “overweight” rating to a “hold” rating and boosted their target price for the company from $16.00 to $17.00 in a research note on Monday, March 19th. TheStreet raised shares of Party City Holdco from a “c” rating to a “b-” rating in a research note on Monday, April 16th. Zacks Investment Research lowered shares of Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. ValuEngine lowered shares of Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Bank of America raised shares of Party City Holdco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.50 to $20.00 in a research note on Thursday, April 19th. One equities research 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. Party City Holdco currently has a consensus rating of “Hold” and a consensus price target of $18.29.
Shares of NYSE:PRTY opened at $15.40 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 12.83, a P/E/G ratio of 0.41 and a beta of 2.13. Party City Holdco Inc has a twelve month low of $9.50 and a twelve month high of $16.90. The company has a quick ratio of 0.38, a current ratio of 1.27 and a debt-to-equity ratio of 1.57.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings results on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $507.82 million during the quarter, compared to analyst estimates of $502.94 million. Party City Holdco had a net margin of 9.11% and a return on equity of 14.56%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. equities analysts forecast that Party City Holdco Inc will post 1.79 earnings per share for the current year.
Party City Holdco Profile
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 and novelties, stationery, and decorations.
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