On Jan. 04, Sosin Clifford invested U.S. $2,482,130 in shares of Party City Holdco Inc.. The 10% acquired 406,500 shares at a cost per share of $6.11. The transaction increased this specific insider’s holdings to 15,670,123 shares worth around $109.22 million at present.
Telsey Advisory Group maintained its Party City Holdco Inc. [PRTY] rating to the equivalent of a Market perform but changed the price target to $1 from $3, in a research note dated March 13, 2020. That figure represents around a -597.0% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Telsey Advisory Group’s analysts reiterating the shares to “a Market perform” rating in a research note to investors issued in mid March. Meanwhile, Stephens had lowered its rating on PRTY to “an Equal-weight” from the earlier “an Overweight”, in a research note produced for clients March 13, 2020. In addition, there was a downgrade from Telsey Advisory Group on November 08, 2019. The rater changed PRTY from “an Outperform” to “a Market perform”.
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Is Party City Holdco Inc. [NYSE:PRTY] a Good Buy Right Now?
It should be noted that PRTY technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Party City Holdco Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 4.02 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 5.43 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 5.89 million shares.
PRTY Price Performance
On Wall Street, Party City Holdco Inc. [NYSE:PRTY] finished Wednesday’s session up 5.93% at $6.97. The stock went up to $7.37 at the same session while its lowest single day price was $6.63. In the last five days, it saw a rise of about 9.76%, Party City Holdco Inc. shares gained by almost 13.33% since the beginning of the year. However, the share price has dropped to as low as 2.05% below its one year high. On 01/06/21, the company shares recorded $7.37, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $5.82. The company’s shares have inclined by 167.05% in the past year. The 50-day SMA achieved is $4.52 while the 200-day SMA is $2.33. Volume gained to 4.79 million from 3.17 million in the previous session.
Party City Holdco Inc. [PRTY] Valuation Measures
Notably, Party City Holdco Inc. [PRTY] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.42 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 0.73.
PRTY Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 6.61 level, and in case of violation of this particular level, it will cause more drop to 6.25 level. On the upper level, 7.73 is still the key resistance. The stock may increase to the subsequent resistance at 7.35. The Relative Strength Index (RSI) pinned on the 14-day chart is 70.35, implying an overbought technical stance while the MACD stands at 0.29, meaning price will decrease in the next trading period. Percent R indicator moved to 22.60%, implying bullish price movement. Stochastic %K at 75.85% suggest holding the stock.
What is the short interest in Party City Holdco Inc.?
Short interest in the Party City Holdco Inc. stock has surged, increasing by 2.62 million shares to total 6.58 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 9.2 million, data from Yahoo Finance shows. The decrease of -39.82% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.88% of the overall float for the stock.
Party City Holdco Inc.’s Biggest Shareholders: Who Owns Party City Holdco Inc. [PRTY]?
Filings by CAS Investment Partners LLC showed that the firm now holds a total of 15,263,623 shares or roughly 13.80% of the outstanding PRTY shares. This means their shares have increased by 2,973,424 from the 15,263,623 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Morgan Stanley Investment Managem updated stake is worth $31,895,207. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 31.63% stake valued at $21,552,784 while Charles Schwab Investment Managem added theirs at $13,985,534. During the last quarter, The Vanguard Group, Inc. raised 1,130,870 of its shares in Party City Holdco Inc. while Charles Schwab Investment Managem bought 263,051 shares. The JPMorgan Investment Management, I’s holdings currently number 2,805,186 shares at $19552146.42. According to the firm’s last 13F report, Millennium Management LLC shares in the company at filing stood at 2,157,082 shares, roughly $9,879,436.
PRTY Earnings Forecast For The Current Quarter
Party City Holdco Inc. [PRTY] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $689.13M and an earnings per share of $0.33 for Dec 2020. Looking further ahead, the company is expected to report revenue of $478.8M at an EPS of $0.05 for Mar 2021. The estimates represent downside of 11.00% and 172.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PRTY Earnings Estimates For The Current Year
For the financial year, Party City Holdco Inc. [NYSE:PRTY] is expected to bring in revenue of $1.88B. The returns are nearly $-470.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.65, lower than that of FY19 by -$1.11. Estimates put this year’s earnings growth at -241.30%, 172.30% for the next, and at an annual -4.68% over the next 5-year period. As for sales, forecasts are for a decrease of -20.00% in the current fiscal year and a further 11.00% over the following year.
What are analyst thoughts on Party City Holdco Inc.?
Looking forward to the Party City Holdco Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Party City Holdco Inc. stock at $4.50 within the next 12 months, which represents almost -54.89 per cent growth from its previous closing price of $6.97. The highest analysts’ target for Party City Holdco Inc. stock projections is $5.00 and the lowest one is $4.00. Still, 3 analysts sharing their consensus rating for PRTY stock in 2021 agree that it is a Hold.