Party City Holdco Target of Unusually Large Options Trading (PRTY)

Party City Holdco Inc (NYSE:PRTY) was the target of some unusual options trading activity on Thursday. Stock traders purchased 4,334 call options on the stock. This represents an increase of approximately 7,504% compared to the average volume of 57 call options.

PRTY has been the subject of a number of recent analyst reports. ValuEngine raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research raised shares of Party City Holdco from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. set a $19.00 target price on shares of Party City Holdco and gave the company a “buy” rating in a research report on Monday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.17.

Shares of Party City Holdco stock traded up $0.06 on Friday, reaching $12.51. 2,060,219 shares of the company traded hands, compared to its average volume of 994,512. Party City Holdco has a 52 week low of $9.50 and a 52 week high of $16.95. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.34 and a beta of 2.07. The company has a quick ratio of 0.36, a current ratio of 1.27 and a debt-to-equity ratio of 1.54.

Party City Holdco (NYSE:PRTY) last released its earnings results on Thursday, August 9th. The specialty retailer reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The firm had revenue of $561.00 million during the quarter, compared to the consensus estimate of $560.95 million. Party City Holdco had a net margin of 9.20% and a return on equity of 15.36%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Equities analysts expect that Party City Holdco will post 1.83 EPS for the current fiscal year.

In related news, Director Gerald C. Rittenberg sold 196,457 shares of the company’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $16.00, for a total value of $3,143,312.00. Following the sale, the director now owns 8,169 shares in the company, valued at approximately $130,704. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $15.50, for a total transaction of $155,000,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,246,457 shares of company stock worth $158,847,312. 6.47% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in PRTY. Royal Bank of Canada lifted its stake in Party City Holdco by 300.1% in the 1st quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 4,916 shares in the last quarter. Spark Investment Management LLC purchased a new stake in Party City Holdco in the 2nd quarter worth approximately $1,659,000. Quadrature Capital Ltd purchased a new stake in Party City Holdco in the 1st quarter worth approximately $297,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Party City Holdco in the 2nd quarter worth approximately $351,000. Finally, Game Creek Capital LP lifted its stake in Party City Holdco by 33.4% in the 2nd quarter. Game Creek Capital LP now owns 65,100 shares of the specialty retailer’s stock worth $993,000 after purchasing an additional 16,300 shares in the last quarter.

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 and novelties, stationery, and decorations.

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