Party City Holdco Inc (NYSE:PRTY) Short Interest Update

Party City Holdco Inc (NYSE:PRTY) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 23,540,000 shares, a decrease of 8.7% from the August 15th total of 25,790,000 shares. Approximately 43.7% of the shares of the stock are sold short. Based on an average trading volume of 2,120,000 shares, the days-to-cover ratio is presently 11.1 days.

In other news, CFO Michael A. Correale bought 24,300 shares of Party City Holdco stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $4.13 per share, with a total value of $100,359.00. Following the completion of the acquisition, the chief financial officer now directly owns 114,481 shares of the company’s stock, valued at $472,806.53. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James M. Harrison bought 125,000 shares of Party City Holdco stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $4.53 per share, with a total value of $566,250.00. Following the acquisition, the chief executive officer now directly owns 114,074 shares of the company’s stock, valued at $516,755.22. The disclosure for this purchase can be found here. Insiders have acquired 153,855 shares of company stock valued at $686,514 in the last three months. Insiders own 6.42% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Elk Creek Partners LLC grew its position in Party City Holdco by 9.1% in the first quarter. Elk Creek Partners LLC now owns 1,030,909 shares of the specialty retailer’s stock worth $8,185,000 after acquiring an additional 86,215 shares during the period. Corbyn Investment Management Inc. MD grew its position in Party City Holdco by 2.6% in the second quarter. Corbyn Investment Management Inc. MD now owns 480,755 shares of the specialty retailer’s stock worth $3,524,000 after acquiring an additional 12,071 shares during the period. First Republic Investment Management Inc. purchased a new position in Party City Holdco in the second quarter worth approximately $683,000. Campbell & CO Investment Adviser LLC purchased a new position in Party City Holdco in the first quarter worth approximately $155,000. Finally, Aperio Group LLC purchased a new position in Party City Holdco in the second quarter worth approximately $214,000.

A number of equities analysts have commented on PRTY shares. Zacks Investment Research cut Party City Holdco from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Bank of America set a $10.00 price target on Party City Holdco and gave the company a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. cut their price target on Party City Holdco from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Goldman Sachs Group raised Party City Holdco from a “neutral” rating to a “buy” rating and cut their price target for the company from $10.00 to $8.00 in a report on Wednesday, July 24th. Finally, Morgan Stanley cut their price target on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Party City Holdco presently has a consensus rating of “Hold” and a consensus target price of $10.92.

Shares of NYSE:PRTY traded up $0.03 during midday trading on Monday, hitting $5.71. The company had a trading volume of 1,186,100 shares, compared to its average volume of 1,780,535. Party City Holdco has a twelve month low of $4.07 and a twelve month high of $13.89. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.23 and a quick ratio of 0.30. The stock has a market cap of $536.42 million, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38. The business’s 50-day simple moving average is $5.17 and its 200-day simple moving average is $6.89.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.22 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.16). Party City Holdco had a net margin of 4.67% and a return on equity of 12.73%. The company had revenue of $563.90 million during the quarter, compared to analyst estimates of $572.14 million. During the same period in the prior year, the business posted $0.40 EPS. Party City Holdco’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Party City Holdco will post 1.28 EPS for the current year.

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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