Elk Creek Partners LLC Sells 62,575 Shares of Party City Holdco Inc. (PRTY)
Elk Creek Partners LLC lowered its position in Party City Holdco Inc. (NYSE:PRTY) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 605,310 shares of the specialty retailer’s stock after selling 62,575 shares during the quarter. Elk Creek Partners LLC owned approximately 0.51% of Party City Holdco worth $9,473,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Party City Holdco by 15.4% in the first quarter. Victory Capital Management Inc. now owns 3,222,061 shares of the specialty retailer’s stock worth $45,270,000 after acquiring an additional 430,797 shares during the last quarter. Poplar Forest Capital LLC acquired a new stake in Party City Holdco during the first quarter worth approximately $518,000. Neuberger Berman Group LLC raised its holdings in Party City Holdco by 4.7% during the second quarter. Neuberger Berman Group LLC now owns 2,434,678 shares of the specialty retailer’s stock worth $38,103,000 after purchasing an additional 109,750 shares in the last quarter. American International Group Inc. raised its holdings in Party City Holdco by 7.1% during the first quarter. American International Group Inc. now owns 16,587 shares of the specialty retailer’s stock worth $233,000 after purchasing an additional 1,098 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in Party City Holdco by 52.7% during the first quarter. Trexquant Investment LP now owns 22,646 shares of the specialty retailer’s stock worth $318,000 after purchasing an additional 7,820 shares in the last quarter.
Shares of Party City Holdco Inc. (NYSE:PRTY) traded up 1.10% during trading on Friday, hitting $13.80. 820,784 shares of the stock were exchanged. The firm has a 50 day moving average of $14.04 and a 200-day moving average of $14.78. Party City Holdco Inc. has a 12-month low of $12.65 and a 12-month high of $18.33. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 14.26 and a beta of 2.69.
Party City Holdco (NYSE:PRTY) last released its earnings results on Wednesday, August 2nd. The specialty retailer reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The company had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $545.59 million. Party City Holdco had a return on equity of 13.97% and a net margin of 4.97%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, analysts forecast that Party City Holdco Inc. will post $1.28 earnings per share for the current year.
A number of analysts have weighed in on PRTY shares. Zacks Investment Research cut shares of Party City Holdco from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. ValuEngine cut shares of Party City Holdco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, BMO Capital Markets set a $16.00 price objective on shares of Party City Holdco and gave the stock a “hold” rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.75.
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In related news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James M. Harrison acquired 65,000 shares of Party City Holdco stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $14.50 per share, for a total transaction of $942,500.00. Following the completion of the purchase, the chief executive officer now directly owns 969 shares of the company’s stock, valued at $14,050.50. The disclosure for this purchase can be found here. Corporate insiders own 5.02% of the company’s stock.
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).
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