Investors Buy High Volume of Put Options on Party City Holdco (PRTY)
Party City Holdco Inc (NYSE:PRTY) saw unusually large options trading activity on Tuesday. Stock investors bought 5,000 put options on the stock. This represents an increase of 4,248% compared to the typical daily volume of 115 put options.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Party City Holdco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. BMO Capital Markets set a $20.00 price target on Party City Holdco and gave the stock a “buy” rating in a research note on Monday, March 12th. JPMorgan Chase & Co. downgraded Party City Holdco from an “overweight” rating to a “hold” rating and lifted their price target for the stock from $16.00 to $17.00 in a research note on Monday. Stephens reaffirmed a “buy” rating and set a $23.00 price target on shares of Party City Holdco in a research note on Tuesday, March 6th. Finally, ValuEngine downgraded Party City Holdco from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.71.
Party City Holdco stock opened at $15.80 on Thursday. Party City Holdco has a one year low of $9.50 and a one year high of $17.05. The firm has a market cap of $1,879.32, a PE ratio of 8.63, a P/E/G ratio of 0.42 and a beta of 2.37. The company has a quick ratio of 0.40, a current ratio of 1.29 and a debt-to-equity ratio of 1.58.
In other news, major shareholder International Corp/Ma Advent sold 19,841,694 shares of Party City Holdco stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $12.20, for a total transaction of $242,068,666.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald C. Rittenberg sold 100,000 shares of Party City Holdco stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.00, for a total value of $1,400,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,280,694 shares of company stock worth $248,544,487 over the last 90 days. Insiders own 5.02% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new position in Party City Holdco in the 4th quarter valued at about $191,000. Millennium Management LLC increased its stake in shares of Party City Holdco by 465.1% during the 4th quarter. Millennium Management LLC now owns 226,618 shares of the specialty retailer’s stock valued at $3,161,000 after acquiring an additional 186,519 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Party City Holdco during the 4th quarter valued at about $245,000. Two Sigma Investments LP acquired a new position in shares of Party City Holdco during the 4th quarter valued at about $1,578,000. Finally, Sapience Investments LLC increased its stake in shares of Party City Holdco by 35.4% during the 4th quarter. Sapience Investments LLC now owns 1,409,200 shares of the specialty retailer’s stock valued at $19,658,000 after acquiring an additional 368,050 shares during the last quarter. 83.62% of the stock is owned by hedge funds and other institutional investors.
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Party City Holdco Company Profile
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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