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Top Buys by Top Brass: Chief Executive Officer Harrison's $494K Bet on PRTY

By Market News Video Staff, Wednesday, May 15, 2:02 PM ET

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $494K by James M. Harrison, Chief Executive Officer at Party City Holdco Inc (NYSE:PRTY).

Harrison bets big on PRTY:

Purchased Insider Title Shares Price/Share Value
12/14/2018 James M. Harrison Chief Executive Officer 51,458 $9.60 $493,996.80

Harrison's average cost works out to $9.60/share. In trading on Wednesday, bargain hunters could buy shares of Party City Holdco Inc (NYSE:PRTY) and achieve a cost basis lower than Harrison, with shares changing hands as low as $7.82 per share. Shares of Party City Holdco Inc were changing hands at $7.93 at last check, trading down about 1.4% on Wednesday. The chart below shows the one year performance of PRTY shares, versus its 200 day moving average:

Party City Holdco Inc Chart

Looking at the chart above, PRTY's low point in its 52 week range is $6.28 per share, with $16.95 as the 52 week high point — that compares with a last trade of $7.93.

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