Party City Holdco (NYSE:PRTY) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Party City Holdco (NYSE:PRTYGet Rating) issued its quarterly earnings data on Monday. The specialty retailer reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.10), MarketWatch Earnings reports. Party City Holdco had a positive return on equity of 85.76% and a negative net margin of 0.30%. During the same period last year, the company earned ($0.05) EPS. Party City Holdco updated its FY 2022 guidance to EPS.

Shares of PRTY opened at $1.18 on Tuesday. The company has a debt-to-equity ratio of 16.34, a quick ratio of 0.45 and a current ratio of 1.23. The firm has a market cap of $132.69 million, a P/E ratio of -19.66 and a beta of 3.47. The firm’s 50 day moving average price is $3.51 and its two-hundred day moving average price is $4.95. Party City Holdco has a twelve month low of $1.09 and a twelve month high of $11.06.

A number of equities analysts have commented on PRTY shares. Zacks Investment Research upgraded shares of Party City Holdco from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 3rd. StockNews.com initiated coverage on shares of Party City Holdco in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.42.

In related news, major shareholder Clifford Sosin acquired 470,000 shares of the business’s stock in a transaction dated Friday, April 8th. The stock was bought at an average price of $3.46 per share, with a total value of $1,626,200.00. Following the acquisition, the insider now owns 20,001,623 shares in the company, valued at approximately $69,205,615.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in PRTY. BNP Paribas Arbitrage SA lifted its holdings in Party City Holdco by 421.0% in the third quarter. BNP Paribas Arbitrage SA now owns 21,216 shares of the specialty retailer’s stock valued at $151,000 after buying an additional 17,144 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of Party City Holdco by 20.2% during the first quarter. Advisor Group Holdings Inc. now owns 23,490 shares of the specialty retailer’s stock valued at $71,000 after purchasing an additional 3,943 shares in the last quarter. MetLife Investment Management LLC grew its stake in Party City Holdco by 38.6% in the 4th quarter. MetLife Investment Management LLC now owns 39,117 shares of the specialty retailer’s stock valued at $218,000 after purchasing an additional 10,898 shares during the period. Credit Suisse AG grew its position in shares of Party City Holdco by 493.3% during the 4th quarter. Credit Suisse AG now owns 90,865 shares of the specialty retailer’s stock valued at $507,000 after acquiring an additional 75,549 shares during the period. Finally, Barclays PLC increased its holdings in Party City Holdco by 73.6% in the 4th quarter. Barclays PLC now owns 134,154 shares of the specialty retailer’s stock worth $748,000 after acquiring an additional 56,880 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

About Party City Holdco (Get Rating)

Party City Holdco Inc designs, manufactures, sources, and distributes party goods worldwide. The company operates through two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery.

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Earnings History for Party City Holdco (NYSE:PRTY)

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