Renaissance Technologies LLC Invests $202,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Renaissance Technologies LLC purchased a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,300 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Priority Technology during the first quarter valued at about $50,000. Williams & Novak LLC bought a new position in Priority Technology during the second quarter valued at about $77,000. State Board of Administration of Florida Retirement System bought a new position in Priority Technology during the first quarter valued at about $91,000. Jacobs Levy Equity Management Inc. bought a new position in Priority Technology during the first quarter valued at about $164,000. Finally, Vanguard Group Inc. increased its stake in Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after acquiring an additional 156,044 shares during the period. 11.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRTH has been the topic of a number of recent research reports. B. Riley lifted their price objective on Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 9th.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.02, for a total value of $50,200.00. Following the transaction, the insider now directly owns 1,101,853 shares of the company’s stock, valued at $5,531,302.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sean Kiewiet sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.02, for a total value of $50,200.00. Following the completion of the transaction, the insider now owns 1,101,853 shares in the company, valued at $5,531,302.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the completion of the transaction, the chief executive officer now owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,498 shares of company stock valued at $367,044 in the last three months. 76.30% of the stock is owned by corporate insiders.

Priority Technology Price Performance

Shares of PRTH opened at $6.34 on Friday. The company has a market capitalization of $487.10 million, a P/E ratio of -9.75 and a beta of 0.98. Priority Technology Holdings, Inc. has a one year low of $2.79 and a one year high of $7.38. The business’s 50 day simple moving average is $5.81 and its 200-day simple moving average is $4.77.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. The business had revenue of $219.87 million during the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%.

Priority Technology Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.