Party City Holdco Inc (PRTY) Stake Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its holdings in Party City Holdco Inc (NYSE:PRTY) by 42.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,134 shares of the specialty retailer’s stock after selling 22,723 shares during the period. Russell Investments Group Ltd.’s holdings in Party City Holdco were worth $422,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PRTY. TIAA CREF Investment Management LLC grew 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 valued at $1,097,000 after acquiring an additional 205 shares during the period. Schwab Charles Investment Management Inc. grew 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 valued at $1,525,000 after acquiring an additional 608 shares during the period. Pacad Investment Ltd. grew 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 valued at $189,000 after acquiring an additional 700 shares during the period. The Manufacturers Life Insurance Company grew 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 valued at $392,000 after acquiring an additional 894 shares during the period. Finally, Teachers Advisors LLC grew its position in Party City Holdco by 2.6% during the second quarter. Teachers Advisors LLC now owns 52,572 shares of the specialty retailer’s stock valued at $823,000 after acquiring an additional 1,343 shares during the period.

In related news, CEO James M. Harrison bought 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $11.27 per share, with a total value of $225,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael A. Correale bought 5,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $12.14 per share, with a total value of $60,700.00. Following the transaction, the insider now directly owns 79,756 shares of the company’s stock, valued at $968,237.84. The disclosure for this purchase can be found here. Insiders sold 22,642,979 shares of company stock valued at $277,826,948 in the last ninety days. Company insiders own 5.02% of the company’s stock.

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

Party City Holdco (NYSE:PRTY) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.13 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.13. Party City Holdco had a return on equity of 13.74% and a net margin of 4.96%. The company had revenue of $560.11 million during the quarter, compared to the consensus estimate of $587.74 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. equities research analysts forecast that Party City Holdco Inc will post 1.21 EPS for the current year.

Party City Holdco announced that its Board of Directors has authorized a stock buyback program on Thursday, November 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms have issued reports on PRTY. Zacks Investment Research downgraded Party City Holdco from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Telsey Advisory Group boosted their price target on Party City Holdco from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Saturday, December 30th. ValuEngine raised Party City Holdco from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Finally, Bank of America set a $16.00 price target on Party City Holdco and gave the company a “hold” rating in a research report on Thursday, December 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.86.

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Party City Holdco 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).

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

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