Party City Holdco Inc (NYSE:PRTY) Sees Significant Increase in Short Interest

Party City Holdco Inc (NYSE:PRTY) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 20,112,000 shares, a growth of 5.1% from the May 30th total of 19,141,100 shares. Approximately 35.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 11.9 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC raised its stake in shares of Party City Holdco by 84.9% in the 4th quarter. Nantahala Capital Management LLC now owns 4,379,789 shares of the specialty retailer’s stock valued at $43,710,000 after purchasing an additional 2,010,906 shares during the period. FMR LLC raised its stake in shares of Party City Holdco by 23.8% in the 4th quarter. FMR LLC now owns 3,240,239 shares of the specialty retailer’s stock valued at $32,338,000 after purchasing an additional 623,039 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Party City Holdco by 109.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,143,957 shares of the specialty retailer’s stock valued at $11,418,000 after acquiring an additional 598,657 shares in the last quarter. Elk Creek Partners LLC grew its holdings in shares of Party City Holdco by 9.1% in the 1st quarter. Elk Creek Partners LLC now owns 1,030,909 shares of the specialty retailer’s stock valued at $8,185,000 after acquiring an additional 86,215 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Party City Holdco by 4.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 923,547 shares of the specialty retailer’s stock valued at $7,333,000 after acquiring an additional 35,692 shares in the last quarter.

PRTY opened at $6.07 on Thursday. The firm has a 50-day moving average price of $7.25. Party City Holdco has a 1 year low of $5.82 and a 1 year high of $16.95. The firm has a market cap of $599.32 million, a P/E ratio of 3.82, a price-to-earnings-growth ratio of 0.26 and a beta of 1.31. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.16 and a quick ratio of 0.28.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, May 9th. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Party City Holdco had a return on equity of 14.84% and a net margin of 3.87%. The firm had revenue of $513.12 million for the quarter, compared to the consensus estimate of $522.59 million. During the same quarter last year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts expect that Party City Holdco will post 1.67 EPS for the current year.

Several analysts recently commented on PRTY shares. JPMorgan Chase & Co. started coverage on Pinduoduo in a research note on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price objective on the stock. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.89.

Party City Holdco Company 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, novelties, gifts, and stationery.

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