Fox Run Management L.L.C. Invests $366,000 in Party City Holdco Inc. (NYSE:PRTY)
Fox Run Management L.L.C. purchased a new position in shares of Party City Holdco Inc. (NYSE:PRTY) during the second quarter, Holdings Channel reports. The institutional investor purchased 23,400 shares of the specialty retailer’s stock, valued at approximately $366,000.
Several other hedge funds and other institutional investors have also modified their holdings of PRTY. Rice Hall James & Associates LLC acquired a new position in shares of Party City Holdco during the first quarter worth $16,244,000. Rubric Capital Management LP acquired a new position in shares of Party City Holdco during the first quarter worth $9,343,000. Victory Capital Management Inc. increased its position in shares of Party City Holdco by 15.4% in the first quarter. Victory Capital Management Inc. now owns 3,222,061 shares of the specialty retailer’s stock worth $45,270,000 after buying an additional 430,797 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Party City Holdco by 287.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 445,995 shares of the specialty retailer’s stock worth $6,333,000 after buying an additional 330,996 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of Party City Holdco during the first quarter worth $3,623,000.
Shares of Party City Holdco Inc. (NYSE:PRTY) opened at 14.75 on Wednesday. The firm’s 50-day moving average is $15.75 and its 200 day moving average is $14.94. Party City Holdco Inc. has a 12 month low of $12.65 and a 12 month high of $19.10. The firm has a market capitalization of $1.76 billion, a P/E ratio of 15.64 and a beta of 2.76.
Party City Holdco (NYSE:PRTY) last released its earnings results on Tuesday, May 9th. The specialty retailer reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $477 million for the quarter, compared to analysts’ expectations of $476.91 million. Party City Holdco had a net margin of 4.92% and a return on equity of 13.81%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that Party City Holdco Inc. will post $1.27 EPS for the current year.
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PRTY has been the topic of a number of research analyst reports. TheStreet upgraded Party City Holdco from a “d+” rating to a “c-” rating in a report on Tuesday, April 11th. BidaskClub cut Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Party City Holdco presently has a consensus rating of “Hold” and a consensus price target of $17.86.
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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