Party City Holdco (NYSE:PRTY) Downgraded by Zacks Investment Research to “Sell”

Party City Holdco (NYSE:PRTYGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Party City Holdco Inc. is involved in designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery. It also operates specialty retail party supply stores primarily in the United States and Canada. Party City Holdco Inc. is based in Elmsford, New York. “

Separately, StockNews.com lowered Party City Holdco from a “hold” rating to a “sell” rating in a research note on Thursday.

NYSE:PRTY opened at $1.32 on Friday. The stock has a market cap of $148.49 million, a P/E ratio of -7.76 and a beta of 3.47. The stock has a 50 day simple moving average of $3.40 and a 200 day simple moving average of $4.90. The company has a current ratio of 1.13, a quick ratio of 0.45 and a debt-to-equity ratio of 23.32. Party City Holdco has a 1-year low of $1.09 and a 1-year high of $11.06.

Party City Holdco (NYSE:PRTYGet Rating) last released its quarterly earnings results on Monday, May 9th. The specialty retailer reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Party City Holdco had a positive return on equity of 68.71% and a negative net margin of 0.89%. During the same period last year, the firm earned ($0.05) EPS. As a group, sell-side analysts forecast that Party City Holdco will post 0.43 EPS for the current year.

In related news, major shareholder Clifford Sosin sold 444,375 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $1.45, for a total transaction of $644,343.75. Following the transaction, the insider now directly owns 19,557,248 shares of the company’s stock, valued at approximately $28,358,009.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.36% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Masters Capital Management LLC grew its holdings in shares of Party City Holdco by 90.0% in the fourth quarter. Masters Capital Management LLC now owns 3,800,000 shares of the specialty retailer’s stock valued at $21,166,000 after acquiring an additional 1,800,000 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Party City Holdco by 580.8% in the fourth quarter. Marshall Wace LLP now owns 1,917,668 shares of the specialty retailer’s stock valued at $10,683,000 after acquiring an additional 1,635,993 shares in the last quarter. Wolf Hill Capital Management LP grew its holdings in shares of Party City Holdco by 66.0% in the third quarter. Wolf Hill Capital Management LP now owns 3,029,821 shares of the specialty retailer’s stock valued at $21,512,000 after acquiring an additional 1,204,688 shares in the last quarter. Union Square Park Capital Management LLC bought a new position in shares of Party City Holdco in the third quarter valued at approximately $7,100,000. Finally, Dendur Capital LP bought a new position in shares of Party City Holdco in the fourth quarter valued at approximately $5,543,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Party City Holdco Company Profile (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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