Insider Buying: Party City Holdco Inc (NYSE:PRTY) CEO Buys 125,000 Shares of Stock
Party City Holdco Inc (NYSE:PRTY) CEO James M. Harrison bought 125,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $4.53 per share, with a total value of $566,250.00. Following the completion of the purchase, the chief executive officer now owns 114,074 shares in the company, valued at approximately $516,755.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of NYSE:PRTY traded down $0.07 during midday trading on Tuesday, hitting $4.31. The company had a trading volume of 3,462,221 shares, compared to its average volume of 1,748,658. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.28 and a current ratio of 1.16. The firm has a market cap of $444.57 million, a P/E ratio of 2.71, a price-to-earnings-growth ratio of 0.19 and a beta of 1.30. Party City Holdco Inc has a 12-month low of $4.26 and a 12-month high of $15.75. The business has a fifty day simple moving average of $6.34.
Party City Holdco (NYSE:PRTY) last posted 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). The company had revenue of $563.90 million during the quarter, compared to analysts’ expectations of $572.14 million. Party City Holdco had a return on equity of 12.88% and a net margin of 4.67%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities analysts expect that Party City Holdco Inc will post 1.7 earnings per share for the current year.
PRTY has been the subject of several analyst reports. Zacks Investment Research lowered Party City Holdco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Goldman Sachs Group upgraded 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. Bank of America reduced their price objective on Party City Holdco from $14.50 to $10.00 and set a “buy” rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on Party City Holdco from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Party City Holdco presently has an average rating of “Hold” and an average price target of $12.03.
About Party City Holdco
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.
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