Nationwide Fund Advisors lifted its stake in Party City Holdco Inc. (NYSE:PRTY) by 437.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,889 shares of the specialty retailer’s stock after purchasing an additional 86,200 shares during the quarter. Nationwide Fund Advisors owned about 0.09% of Party City Holdco worth $1,657,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PRTY. Legal & General Group Plc increased its stake in Party City Holdco by 14.0% during the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 881 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Party City Holdco during the first quarter worth $170,000. Pacad Investment Ltd. increased its stake in Party City Holdco by 6.1% during the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after acquiring an additional 700 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Party City Holdco during the first quarter worth $171,000. Finally, SG Americas Securities LLC acquired a new stake in Party City Holdco during the first quarter worth $232,000.
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Several research firms have issued reports on PRTY. Zacks Investment Research cut Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered Party City Holdco from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the stock a “hold” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Party City Holdco has a consensus rating of “Buy” and an average target price of $16.67.
In other news, insider Ryan T. Vero acquired 2,921 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was purchased at an average price of $13.70 per share, for a total transaction of $40,017.70. Following the completion of the acquisition, the insider now owns 2,921 shares in the company, valued at $40,017.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gerald C. Rittenberg sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $14.68, for a total transaction of $1,027,600.00. The disclosure for this sale can be found here. Insiders own 5.02% of the company’s stock.
Party City Holdco Inc. (NYSE:PRTY) opened at 11.90 on Friday. Party City Holdco Inc. has a 12-month low of $10.80 and a 12-month high of $17.70. The company has a 50-day moving average price of $13.04 and a 200-day moving average price of $14.55. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.29 and a beta of 2.66.
Party City Holdco (NYSE:PRTY) last announced its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $545.59 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Party City Holdco Inc. will post $1.28 earnings per share for the current year.
About Party City Holdco
Party City Holdco Inc is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc (PCHI).
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