Investors Purchase High Volume of Party City Holdco Put Options (NYSE:PRTY)

Party City Holdco Inc (NYSE:PRTY) was the target of unusually large options trading activity on Wednesday. Stock investors bought 2,420 put options on the stock. This is an increase of approximately 1,852% compared to the average volume of 124 put options.

A number of brokerages have issued reports on PRTY. Zacks Investment Research cut shares of Party City Holdco from a “hold” rating to a “sell” rating in a report on Friday, July 27th. ValuEngine cut Party City Holdco from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.29.

Shares of PRTY traded up $0.20 during mid-day trading on Friday, reaching $15.35. 1,494,900 shares of the company’s stock traded hands, compared to its average volume of 935,167. The stock has a market cap of $1.47 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.38 and a beta of 2.11. The company has a current ratio of 1.27, a quick ratio of 0.36 and a debt-to-equity ratio of 1.54. Party City Holdco has a 12 month low of $9.50 and a 12 month high of $16.95.

Party City Holdco (NYSE:PRTY) last released its quarterly earnings results on Thursday, August 9th. The specialty retailer reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Party City Holdco had a return on equity of 15.36% and a net margin of 9.20%. The company had revenue of $561.00 million for the quarter, compared to analysts’ expectations of $560.95 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. analysts forecast that Party City Holdco will post 1.82 EPS for the current year.

In other Party City Holdco news, major shareholder H. Lee Equity Fund Vi Thomas sold 10,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $15.50, for a total value of $155,000,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald C. Rittenberg sold 196,457 shares of the firm’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $16.00, for a total transaction of $3,143,312.00. Following the completion of the transaction, the director now directly owns 8,169 shares in the company, valued at approximately $130,704. The disclosure for this sale can be found here. Company insiders own 6.47% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in shares of Party City Holdco by 300.1% during the first quarter. Royal Bank of Canada now owns 6,554 shares of the specialty retailer’s stock valued at $101,000 after acquiring an additional 4,916 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Party City Holdco during the first quarter valued at approximately $297,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Party City Holdco during the second quarter valued at approximately $351,000. Bank of New York Mellon Corp increased its stake in shares of Party City Holdco by 41.7% during the fourth quarter. Bank of New York Mellon Corp now owns 268,116 shares of the specialty retailer’s stock valued at $3,740,000 after acquiring an additional 78,870 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Party City Holdco by 17.6% during the first quarter. BlackRock Inc. now owns 2,093,468 shares of the specialty retailer’s stock valued at $32,659,000 after acquiring an additional 312,921 shares during the period.

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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