Short traders are feeling a little more bearish on Party City Holdco Inc. of late as indicated by the uptick in short interest. The company recorded a rise in short interest between August 15, 2017 and August 31, 2017 of 5.42%. Short interest grew 376,325 over that period. With short interest at 7,315,294 and short average daily volume at 319,939, days to cover is 23.0 and the percentage of shorted shares was 0.06% on August 31.
There has been some buying insider activity on Party City Holdco Inc. (NYSE:PRTY) recently. James M. Harrison, CEO disclosed the purchase of 65,000 shares of (PRTY). The shares were bought on August 4th for an average price of $14.50. The CEO now owns $4,335,500 of the stock according to the SEC filing.
The following firms have recently changed their position in PRTY. As of quarter end Pacad Investment Ltd. had bought 700 shares growing its position 6.1%. The value in dollars went from $160,000 to $189,000 increasing 18.1% since the last quarter. As of the end of the quarter Ubs Group Ag had acquired a total of 375 shares growing its holdings by 2,343.8%. The value of the company’s investment in Party City Holdco Inc. increased from $0 to $6,000 a change of inf% for the reporting period.
Neuberger Berman Group LLC bolstered its position by buying 109,750 shares an increase of 4.7% as of 06/30/2017. Neuberger Berman Group LLC now controls 2,434,678 shares with a value of $38,103,000. The total value of its holdings increased 16.6%. As of quarter end Elk Creek Partners, LLC had disposed of 62,575 shares trimming its stake by 9.4%. The value of the investment in (PRTY) increased from $9,384,000 to $9,473,000 a change of $89,000 quarter over quarter.
In the market the company is trading down by 0.73%% since yesterday’s close of 13.7. The stock is trading at $13.60 a bit lower than $14.02, the 50 day moving average and barely below the 200 day moving average of $14.78. The 50 day moving average was down by -3.01% and the 200 day average went down by -7.98%.
The P/E ratio is 14.05 and the market value is 1.63B. In the last earnings report the EPS was $0.97 and is projected to be $1.28 for the current year with 119,529,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.82 and the next full year EPS is anticipated to be $1.44.
Party City Holdco Inc., launched on May 31, 2012, is a holding company with no operating assets or operations. As of December 31, 2016, the Company owned PC Nextco Holdings, LLC (PC Nextco), which owned PC Intermediate Holdings, Inc. (PC Intermediate). As of December 31, 2016, PC Intermediate owned Party City Holdings Inc. (PCHI). PCHI or its direct or indirect subsidiaries conduct all of its operating businesses. The Company operates through two segments: Retail and Wholesale. Its retail operations generate revenue primarily through the sale of its Amscan, Designware, Anagram and Costumes USA party supplies through its Party City stores, Halloween City stores and PartyCity.com. Its wholesale revenues are generated from the sale of party goods for all occasions, including paper and plastic tableware, accessories and novelties, costumes, metallic and latex balloons and stationery. Its products are sold at wholesale to party goods superstores, including its franchise stores, other party goods retailers, mass merchants, independent card and gift stores, dollar stores and other retailers and distributors throughout the world. As of December 31, 2016, the Business’s network consisted of approximately 880 superstore locations in the United States (inclusive of franchised stores) and approximately 50 locations in Canada. It also operates approximately 250 to 300 temporary Halloween stores under the Halloween City banner..