Intrepid Capital Management Inc. trimmed its holdings in Party City Holdco Inc (NYSE:PRTY) by 74.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 118,418 shares of the specialty retailer’s stock after selling 344,784 shares during the period. Intrepid Capital Management Inc.’s holdings in Party City Holdco were worth $868,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Party City Holdco by 109.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,143,957 shares of the specialty retailer’s stock worth $11,418,000 after buying an additional 598,657 shares in the last quarter. Royce & Associates LP bought a new stake in Party City Holdco during the first quarter worth approximately $3,752,000. Thompson Investment Management Inc. increased its stake in Party City Holdco by 72.2% during the second quarter. Thompson Investment Management Inc. now owns 531,665 shares of the specialty retailer’s stock worth $3,897,000 after acquiring an additional 222,900 shares during the last quarter. Sapience Investments LLC increased its stake in Party City Holdco by 26.2% during the first quarter. Sapience Investments LLC now owns 784,050 shares of the specialty retailer’s stock worth $6,225,000 after acquiring an additional 162,700 shares during the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in Party City Holdco during the second quarter worth approximately $683,000.
Shares of PRTY opened at $6.22 on Friday. Party City Holdco Inc has a 12 month low of $4.07 and a 12 month high of $15.60. The stock has a fifty day moving average price of $5.23 and a 200-day moving average price of $7.24. The company has a current ratio of 1.23, a quick ratio of 0.30 and a debt-to-equity ratio of 2.21. The firm has a market cap of $567.57 million, a PE ratio of 3.91, a P/E/G ratio of 0.32 and a beta of 1.38.
Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data 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 business had revenue of $563.90 million for the quarter, compared to analysts’ expectations of $572.14 million. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts forecast that Party City Holdco Inc will post 1.28 EPS for the current year.
In other news, CFO Michael A. Correale bought 24,300 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $4.13 per share, with a total value of $100,359.00. Following the transaction, the chief financial officer now directly owns 114,481 shares in the company, valued at $472,806.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Harrison bought 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $4.53 per share, for a total transaction of $566,250.00. Following the completion of the transaction, the chief executive officer now owns 114,074 shares in the company, valued at $516,755.22. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 153,855 shares of company stock worth $686,514. 6.47% of the stock is owned by insiders.
Several equities research analysts have weighed in on PRTY shares. JPMorgan Chase & Co. reduced their price objective on Party City Holdco from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Morgan Stanley reduced their price objective on Party City Holdco from $13.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Goldman Sachs Group raised Party City Holdco from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research note on Wednesday, July 24th. Zacks Investment Research cut Party City Holdco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Finally, 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Party City Holdco currently has a consensus rating of “Hold” and an average target price of $10.92.
Party City Holdco 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.
Further Reading: Diluted Earnings Per Share
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