Victory Capital Management Inc. Has $47.12 Million Stake in Party City Holdco Inc. (PRTY)
Victory Capital Management Inc. cut its stake in Party City Holdco Inc. (NYSE:PRTY) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,010,521 shares of the specialty retailer’s stock after selling 211,540 shares during the period. Victory Capital Management Inc. owned approximately 2.52% of Party City Holdco worth $47,115,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Monarch Partners Asset Management LLC acquired a new stake in shares of Party City Holdco during the second quarter worth approximately $8,839,000. Ameriprise Financial Inc. acquired a new stake in shares of Party City Holdco during the first quarter worth approximately $3,623,000. Jennison Associates LLC increased its stake in shares of Party City Holdco by 13.7% in the second quarter. Jennison Associates LLC now owns 1,952,887 shares of the specialty retailer’s stock worth $30,563,000 after buying an additional 235,322 shares during the last quarter. UBS Oconnor LLC acquired a new stake in shares of Party City Holdco during the first quarter worth approximately $3,028,000. Finally, Vanguard Group Inc. increased its stake in shares of Party City Holdco by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,322,061 shares of the specialty retailer’s stock worth $32,625,000 after buying an additional 183,643 shares during the last quarter.
Party City Holdco Inc. (NYSE:PRTY) opened at 14.10 on Tuesday. The firm’s 50-day moving average price is $14.42 and its 200 day moving average price is $14.90. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 14.57 and a beta of 2.69. Party City Holdco Inc. has a one year low of $12.65 and a one year high of $18.33.
Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Party City Holdco had a net margin of 4.97% and a return on equity of 13.97%. The business had revenue of $544.90 million during the quarter, compared to the consensus estimate of $545.59 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Party City Holdco Inc. will post $1.28 earnings per share for the current fiscal year.
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PRTY has been the subject of a number of research analyst reports. BidaskClub downgraded Party City Holdco from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research downgraded Party City Holdco from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. ValuEngine downgraded Party City Holdco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price target on Party City Holdco and gave the company a “hold” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Party City Holdco presently has an average rating of “Hold” and an average price target of $17.00.
In other Party City Holdco news, CEO James M. Harrison bought 65,000 shares of Party City Holdco stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $14.50 per share, with a total value of $942,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 969 shares in the company, valued at approximately $14,050.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald C. Rittenberg sold 70,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $14.68, for a total transaction of $1,027,600.00. The disclosure for this sale can be found here. Insiders own 5.02% of the company’s stock.
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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