Party City Holdco (NYSE:PRTY) Cut to Hold at Zacks Investment Research

Party City Holdco (NYSE:PRTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Party City Holdco Inc. is involved in designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery. It also operates specialty retail party supply stores primarily in the United States and Canada. Party City Holdco Inc. is based in Elmsford, New York. “

Several other analysts have also recently weighed in on the company. TheStreet cut Party City Holdco from a “c” rating to a “d+” rating in a report on Tuesday, November 9th. Telsey Advisory Group dropped their price objective on Party City Holdco from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Wednesday, November 10th.

Party City Holdco stock opened at $6.25 on Wednesday. The stock has a 50-day simple moving average of $7.28 and a 200 day simple moving average of $7.98. The company has a quick ratio of 0.53, a current ratio of 1.24 and a debt-to-equity ratio of 13.18. Party City Holdco has a 12-month low of $4.33 and a 12-month high of $11.06. The stock has a market capitalization of $701.41 million, a price-to-earnings ratio of -8.12 and a beta of 3.67.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Monday, November 8th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. Party City Holdco had a positive return on equity of 69.29% and a negative net margin of 3.93%. During the same period in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Party City Holdco will post 0.69 EPS for the current year.

In other news, Director William S. Creekmuir purchased 8,000 shares of Party City Holdco stock in a transaction on Tuesday, November 23rd. The stock was purchased at an average price of $6.16 per share, with a total value of $49,280.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Collins purchased 4,000 shares of Party City Holdco stock in a transaction on Tuesday, September 14th. The shares were purchased at an average cost of $6.56 per share, with a total value of $26,240.00. Following the transaction, the director now owns 80,593 shares in the company, valued at $528,690.08. The disclosure for this purchase can be found here. 2.36% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Cetera Advisor Networks LLC bought a new stake in shares of Party City Holdco during the 3rd quarter worth approximately $114,000. BNP Paribas Arbitrage SA raised its stake in Party City Holdco by 421.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,216 shares of the specialty retailer’s stock valued at $151,000 after acquiring an additional 17,144 shares during the period. Squarepoint Ops LLC bought a new stake in Party City Holdco in the 3rd quarter valued at $408,000. Two Sigma Advisers LP raised its stake in Party City Holdco by 0.5% in the 3rd quarter. Two Sigma Advisers LP now owns 1,983,600 shares of the specialty retailer’s stock valued at $14,084,000 after acquiring an additional 10,200 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in Party City Holdco in the 3rd quarter valued at $236,000. Institutional investors own 75.44% of the company’s stock.

Party City Holdco Company Profile

Party City Holdco, Inc engages in the supply of decorated party goods. It operates through the following segments: Wholesale and Retail. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties and stationery throughout the world.

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