CAS Investment Partners LLC has recently announced that it has increased stake in Party City Holdco Inc. (NYSE:PRTY) by 12.97%. After grabbing 12.05 million shares, the institutional investor is now in possession of 1.38 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 12.75% having worth around $19.76 million. Moreover, Morgan Stanley Investment Managem.. increased its share by 0.61 million to have a control over 7.22 million shares. And Charles Schwab Investment Managem.. raised its holdings to 0.85 million shares by acquiring 2.79 million shares or 2.95% of the stake.
Party City Holdco Inc. (PRTY) concluded trading on 08/26/20 at a closing price of $2.53, with 8.64 million shares of worth about $21.85 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 23.41% during that period and on Wednesday the price saw a gain of about 2.85%. Currently the company’s common shares owned by public are about 93.42M shares, out of which, 85.29M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the PRTY stock and their offered price forecasts bring an average price target of $2.25. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $4.00 and could fall to a lowest price of $1.00. Analysts also issued an outlook of 2.80 for the Party City Holdco Inc. stock for next 12 months. The stock’s current price level is -12.44% below of average price target set by the analysts, while a dip to estimated low would result in loss of -153.0 for the stock. However, touching the estimated high of $4.00 would mean a gain of 36.75% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 31 times over the past 12 months. They bought 7,234,755 shares in 30 of the transactions. In 1 selling transactions, insiders dumped 35,716,258 shares.
Vanguard Total Stock Market Index, Schwab Fundamental US Small Compa, and Morgan Stanley Instl. Fund Tr. – are the top 3 mutual funds which are holding stakes in Party City Holdco Inc. Vanguard Total Stock Market Index is currently holding 2.54 million shares of worth totaling $4.17 million. The company recently came buying 0.0 shares which brought its stake up to 2.69% of the company’s outstanding shares. Schwab Fundamental US Small Compa sold 960.0 shares, after which its hold over company’s outstanding shares shrunk to 1.76%, leaving 1.66 million shares with the mutual fund that have a worth of about $2.72 million. Morgan Stanley Instl. Fund Tr. -, after buying 1.39 million shares, have now control over 1.47% of the stake in the company. It holds 1.39 million shares of worth $2.28 million.
Party City Holdco Inc. (NYSE: PRTY) started trading at $2.44, below -$0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $2.53, or with a gain of 2.85%. Stock saw a price change of 23.41% in past 5 days and over the past one month there was a price change of 67.55%. Year-to-date (YTD), PRTY shares are showing a performance of 8.12% which decreased to -44.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.26 but also hit the highest price of $7.37 during that period. While comparing its average daily trading volume of 9.20 million shares, we see that about 8.64 million changed hands on the day. The stock is currently trading 27.58% above its 20-day simple moving average (SMA20), while that difference is up 51.73% for SMA50 and it goes to 57.82% higher than SMA200.
CAS Investment Partners LLC acquired 12.05 million shares of Party City Holdco Inc. having value of about $19.76 million. Data submitted at the U.S SEC by CAS Investment Partners LLC revealed that the firm now holds 1.38 million shares in the company valued at close to $3500161.39, or have control over 12.97% stake in the company. Party City Holdco Inc. (NYSE: PRTY) currently have 93.42M outstanding shares and institutions hold larger chunk of about 43.50% of that. Holding of mutual funds in the company is about 29.15% while other institutional holders and individual stake holders have control over 82.16% and 14.75% of the stake respectively.
The stock has a current market capitalization of $268.05M and its 3Y-monthly beta is at 2.98. It has posted earnings per share of -$13.09 in the same period. It has Quick Ratio of 0.40. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PRTY, volatility over the week remained 14.68% while standing at 14.32% over the month.
Analysts are in expectations that Party City Holdco Inc. (PRTY) stock would likely to be making an EPS of -$0.32 in the current quarter, while forecast for next quarter ESPS is $0.3 and it is $0.27 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.78 which is -$0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.28 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -557.50% while it is estimated to increase by 125.80% in next year. EPS is likely to grow at an annualized rate of -14.16% for next 5-years, compared to annual growth of -69.00% made by the stock over the past 5-years.
Analysts at 5 brokerage firms have issued recommendations for the Party City Holdco Inc. (PRTY)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.80. Out of those 5 Wall Street analysts, 1 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Telsey Advisory Group on March 13, 2020 offering a Market perform rating for the stock and assigned a target price range of between $3 and $1 to it. Coverage by Stephens stated Party City Holdco Inc. (PRTY) stock as an Equal-weight in their note to investors on March 13, 2020, suggesting a price target of $2 for the stock. On November 08, 2019, Telsey Advisory Group Downgrade their recommendations, while on November 08, 2019, Goldman Downgrade their ratings for the stock with a price target of. Stock get a Buy rating from Goldman on July 24, 2019.