Engineers Gate Manager LP bought a new position in Party City Holdco Inc (NYSE:PRTY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 90,439 shares of the specialty retailer’s stock, valued at approximately $1,262,000. Engineers Gate Manager LP owned about 0.08% of Party City Holdco as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. ZWJ Investment Counsel Inc. acquired a new position in shares of Party City Holdco during the fourth quarter valued at approximately $167,000. Voya Investment Management LLC acquired a new stake in shares of Party City Holdco in the second quarter valued at approximately $202,000. SG Americas Securities LLC acquired a new stake in shares of Party City Holdco in the third quarter valued at approximately $176,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Party City Holdco in the third quarter valued at approximately $327,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Party City Holdco in the third quarter valued at approximately $333,000.
Party City Holdco Inc (NYSE PRTY) traded up $0.10 on Friday, hitting $15.20. The stock had a trading volume of 768,974 shares, compared to its average volume of 665,592. The firm has a market capitalization of $1,801.76, a PE ratio of 15.83, a P/E/G ratio of 0.38 and a beta of 2.57. Party City Holdco Inc has a twelve month low of $9.50 and a twelve month high of $17.05. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 0.51.
Party City Holdco announced that its board has initiated a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have issued reports on the company. BMO Capital Markets set a $18.00 target price on Party City Holdco and gave the stock a “buy” rating in a research note on Thursday, January 11th. Telsey Advisory Group restated an “outperform” rating and set a $19.00 price target (up from $17.00) on shares of Party City Holdco in a research report on Thursday, January 11th. Zacks Investment Research upgraded Party City Holdco from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Bank of America set a $16.00 target price on Party City Holdco and gave the company a “hold” rating in a report on Thursday, December 28th. Finally, ValuEngine upgraded Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.43.
In other Party City Holdco news, major shareholder International Corp/Ma Advent sold 2,558,306 shares of Party City Holdco stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $12.67, for a total value of $32,413,737.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jefferson M. Case sold 42,979 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $12.67, for a total value of $544,543.93. The disclosure for this sale can be found here. Insiders sold a total of 22,642,979 shares of company stock worth $277,826,948 in the last 90 days. 5.02% of the stock is currently owned by insiders.
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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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