Engineers Gate Manager LP Sells 35,541 Shares of Party City Holdco (PRTY)

Engineers Gate Manager LP decreased its position in shares of Party City Holdco (NYSE:PRTY) by 39.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,898 shares of the specialty retailer’s stock after selling 35,541 shares during the period. Engineers Gate Manager LP’s holdings in Party City Holdco were worth $856,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PRTY. Rhumbline Advisers increased its position in shares of Party City Holdco by 13.7% in the first quarter. Rhumbline Advisers now owns 32,706 shares of the specialty retailer’s stock worth $510,000 after purchasing an additional 3,940 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Party City Holdco by 5.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 102,992 shares of the specialty retailer’s stock worth $1,396,000 after purchasing an additional 5,587 shares during the period. SG Americas Securities LLC increased its position in shares of Party City Holdco by 40.7% in the first quarter. SG Americas Securities LLC now owns 22,576 shares of the specialty retailer’s stock worth $352,000 after purchasing an additional 6,530 shares during the period. Wells Fargo & Company MN increased its position in shares of Party City Holdco by 26.3% in the first quarter. Wells Fargo & Company MN now owns 33,039 shares of the specialty retailer’s stock worth $516,000 after purchasing an additional 6,878 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Party City Holdco by 12.6% in the fourth quarter. Deutsche Bank AG now owns 61,833 shares of the specialty retailer’s stock worth $861,000 after purchasing an additional 6,917 shares during the period.

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In other news, Director Gerald C. Rittenberg sold 239,000 shares of Party City Holdco stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $15.38, for a total transaction of $3,675,820.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder H. Lee Equity Fund Vi Thomas sold 12,000,000 shares of Party City Holdco stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $15.00, for a total value of $180,000,000.00. The disclosure for this sale can be found here. Insiders own 6.47% of the company’s stock.

PRTY has been the topic of a number of recent analyst reports. JPMorgan Chase cut Party City Holdco from an “overweight” rating to a “hold” rating and raised their price target for the stock from $16.00 to $17.00 in a research report on Monday, March 19th. Zacks Investment Research cut Party City Holdco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Stephens restated a “buy” rating and issued a $23.00 price target on shares of Party City Holdco in a research report on Tuesday, March 6th. ValuEngine cut Party City Holdco from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Bank of America upgraded Party City Holdco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.50 to $20.00 in a research report on Thursday, April 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.29.

Party City Holdco stock opened at $14.35 on Wednesday. Party City Holdco has a 12-month low of $9.50 and a 12-month high of $17.00. The company has a current ratio of 1.27, a quick ratio of 0.38 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 0.38 and a beta of 2.18.

Party City Holdco (NYSE:PRTY) last released its earnings results on Wednesday, May 9th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.05. Party City Holdco had a return on equity of 14.56% and a net margin of 9.11%. The firm had revenue of $507.82 million for the quarter, compared to analysts’ expectations of $502.94 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. equities analysts anticipate that Party City Holdco will post 1.79 earnings per share for the current fiscal year.

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 and novelties, stationery, and decorations.

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Institutional Ownership by Quarter for Party City Holdco (NYSE:PRTY)

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