Traders Purchase Large Volume of Party City Holdco Put Options (PRTY)

Party City Holdco Inc. (NYSE:PRTY) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 1,922 put options on the stock. This represents an increase of 2,060% compared to the typical volume of 89 put options.

In other Party City Holdco news, CEO James M. Harrison bought 20,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $11.27 per share, for a total transaction of $225,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder International Corp/Ma Advent sold 2,558,306 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $12.67, for a total value of $32,413,737.02. The disclosure for this sale can be found here. 5.02% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Parallax Volatility Advisers L.P. bought a new position in shares of Party City Holdco during the 2nd quarter worth about $127,000. SG Americas Securities LLC bought a new position in shares of Party City Holdco during the 3rd quarter worth about $176,000. Pacad Investment Ltd. boosted its position in shares of Party City Holdco by 6.1% during the 2nd quarter. Pacad Investment Ltd. now owns 12,100 shares of the specialty retailer’s stock worth $189,000 after purchasing an additional 700 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Party City Holdco during the 2nd quarter worth about $202,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Party City Holdco during the 3rd quarter worth about $327,000.

Shares of Party City Holdco (NYSE PRTY) opened at $13.95 on Monday. The firm has a market capitalization of $1,660.00 and a price-to-earnings ratio of 14.53. Party City Holdco has a 1-year low of $9.50 and a 1-year high of $17.05. The company has a quick ratio of 0.51, a current ratio of 1.64 and a debt-to-equity ratio of 1.43.

Party City Holdco (NYSE:PRTY) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.13. The business had revenue of $560.11 million during the quarter, compared to the consensus estimate of $587.74 million. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. Party City Holdco’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. equities analysts anticipate that Party City Holdco will post 1.21 EPS for the current fiscal year.

Party City Holdco announced that its Board of Directors has approved a share buyback plan on Thursday, November 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Several brokerages have recently issued reports on PRTY. Telsey Advisory Group upped their price target on shares of Party City Holdco from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday. ValuEngine upgraded shares of Party City Holdco from a “hold” rating to a “buy” rating in a report on Monday, December 4th. Morgan Stanley decreased their price objective on Party City Holdco from $15.50 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 14th. JPMorgan Chase & Co. initiated coverage on Party City Holdco in a report on Monday, November 13th. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Zacks Investment Research downgraded Party City Holdco from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.83.

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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).

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