Why Party City Stock Popped 17% Today

Investors in Party City Holdco (NYSE: PRTY) are having a bit of a celebration today, enjoying a 17% run-up in the party supply company's shares through 11:30 a.m. EDT.

It's not hard to figure out why. Friday after close of trading, Party City revealed in an SEC filing that its independent director and chair of the board of directors, Norman Matthews, has purchased 250,000 shares of the company on the open market, at prices averaging $2 a share.  

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Source Fool.com