CAS Investment Partners LLC recently announced the acquisition of new stake in Party City Holdco Inc. (NYSE:PRTY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 15.22% to 12.29 million shares with purchase of 1.62 million shares. This fresh investment now brings its stake to 13.01% valued currently at $20.16 million. In addition, Morgan Stanley Investment Managem.. raised its holdings by 0.61 million to 7.22 million shares. And Charles Schwab Investment Managem.. has lifted its position by 43.52% or 0.85 million shares – to 2.79 million shares.
With over 10.68 million Party City Holdco Inc. (PRTY) shares trading Friday and a closing price of $2.90 on the day, the dollar volume was approximately $30.96 million. The shares have shown a positive weekly performance of 45.00% and its price on 08/28/20 gained nearly 9.02%. Currently, there are 93.42M common shares owned by the public and among those 85.04M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for PRTY have a consensus price objective of $2.25. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Party City Holdco Inc. stock is 2.80 for the next 12 months. The average price target is -28.89% below its last price level and a downside to the estimated low will see the stock lose -190.0% over that period. But an upside of 27.5% will see the stock hit the forecast high price target while mean target price for the stock is $2.00.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 7,234,755 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 35,716,258 shares.
The top 3 mutual fund holders in Party City Holdco Inc. are Vanguard Total Stock Market Index, Schwab Fundamental US Small Compa, and Morgan Stanley Instl. Fund Tr. -. Vanguard Total Stock Market Index owns 2.54 million shares of the company’s stock, all valued at over $4.17 million. Schwab Fundamental US Small Compa sold 960.0 shares to see its total holdings shrink to 1.66 million shares valued at over $2.72 million and representing 1.76% of the shares outstanding. Morgan Stanley Instl. Fund Tr. – bought 1.39 million shares to bring its total holdings to over 1.39 million shares at a value of $2.28 million. Morgan Stanley Instl. Fund Tr. – now owns shares totaling to 1.47% of the shares outstanding.
Shares of Party City Holdco Inc. (NYSE: PRTY) opened at $2.74, up $0.08 from a prior closing price of $2.66. However, the script later closed the day at $2.90, up 9.02%. The company’s stock has a 5-day price change of 45.00% and 161.26% over the past three months. PRTY shares are trading 23.93% year to date (YTD), with the 12-month market performance down to -43.36% lower. It has a 12-month low price of $0.26 and touched a high of $7.37 over the same period. Currently, 10.68 million shares have been traded, compared to an average intraday trading volume of 8.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 39.83%, 70.99%, and 80.63% respectively.
Institutional ownership of Party City Holdco Inc. (NYSE: PRTY) shares accounts for 43.50% of the company’s 93.42M shares outstanding. Mutual fund holders own 29.50%, while other institutional holders and individual stakeholders account for 82.16% and 14.66% respectively.
It has a market capitalization of $251.60M and a beta (3y monthly) value of 3.15. The earnings-per-share (ttm) stands at -$13.09. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.97% over the week and 14.00% over the month.
Analysts forecast that Party City Holdco Inc. (PRTY) will achieve an EPS of -$0.32 for the current quarter, $0.3 for the next quarter and $0.27 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.78 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was -$0.28 a year ago. Earnings per share for the fiscal year are expected to decrease by -557.50%, and 130.30% over the next financial year. EPS should grow at an annualized rate of -4.68% over the next five years, compared to -69.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Party City Holdco Inc. (PRTY) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PRTY, a number of firms have released research notes about the stock. Telsey Advisory Group stated their Market Perform rating for the stock in a research note on March 13, 2020, with the firm’s price target at $3-$1. Stephens coverage for the Party City Holdco Inc. (PRTY) stock in a research note released on March 13, 2020 offered a Equal-Weight rating with a price target of $2. Telsey Advisory Group was of a view on November 08, 2019 that the stock is Market Perform, while Goldman gave the stock Neutral rating on November 08, 2019, issuing a price target of. Goldman on their part issued Buy rating on July 24, 2019.