- Shares of Party City Holdco Inc. (PRTY) have surged over 800% off their March 2020 closing lows, as a successful exchange offering retired debt of $463.4 million and added cash.
- Despite resetting its capital structure, its leverage ratio is still 13.3x but drops to 4.8x if a more representative 2019 Adj. EBITDA result is used.
- Improving comps and insider buying merited further investigation into this back from the dead retail concern.
- A full investment analysis follows in the paragraphs below.
For further details see:
Party City: Assessment After Massive Rally