Prudential Financial Inc. Acquires 49,880 Shares of Party City Holdco Inc. (PRTY)

Prudential Financial Inc. increased its holdings in shares of Party City Holdco Inc. (NYSE:PRTY) by 86.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,860 shares of the specialty retailer’s stock after purchasing an additional 49,880 shares during the quarter. Prudential Financial Inc. owned approximately 0.09% of Party City Holdco worth $1,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TIAA CREF Investment Management LLC raised its position in Party City Holdco by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 70,088 shares of the specialty retailer’s stock worth $1,097,000 after acquiring an additional 205 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Party City Holdco by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 97,405 shares of the specialty retailer’s stock worth $1,525,000 after acquiring an additional 608 shares in the last quarter. Pacad Investment Ltd. raised its position in Party City Holdco by 6.1% during the second quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after acquiring an additional 700 shares in the last quarter. Legal & General Group Plc raised its position in Party City Holdco by 14.0% during the first quarter. Legal & General Group Plc now owns 7,190 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 881 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Party City Holdco by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 25,032 shares of the specialty retailer’s stock worth $392,000 after acquiring an additional 894 shares in the last quarter.

Shares of Party City Holdco Inc. (PRTY) traded down $0.20 on Thursday, hitting $13.40. 376,100 shares of the stock traded hands, compared to its average volume of 482,741. The company has a market capitalization of $1,610.00 and a price-to-earnings ratio of 11.43. Party City Holdco Inc. has a 52 week low of $9.50 and a 52 week high of $17.45. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.64 and a quick ratio of 0.51.

Party City Holdco (NYSE:PRTY) last issued its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $560.11 million for the quarter, compared to analyst estimates of $587.74 million. Party City Holdco had a net margin of 4.96% and a return on equity of 13.74%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. sell-side analysts expect that Party City Holdco Inc. will post 1.21 EPS for the current year.

Party City Holdco declared that its board has approved a stock buyback plan on Thursday, November 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In other Party City Holdco news, insider Michael A. Correale purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $12.14 per share, for a total transaction of $60,700.00. Following the completion of the purchase, the insider now owns 79,756 shares of the company’s stock, valued at approximately $968,237.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James M. Harrison purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of $11.27 per share, for a total transaction of $225,400.00. The disclosure for this purchase can be found here. 5.02% of the stock is owned by corporate insiders.

Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Party City Holdco from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. ValuEngine raised shares of Party City Holdco from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Morgan Stanley dropped their price objective on shares of Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.60.

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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).

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

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