Priority Technology Holdings, Inc. (NASDAQ:PRTH) Shares Bought by Jane Street Group LLC

Jane Street Group LLC grew its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 6.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,347 shares of the company’s stock after buying an additional 1,293 shares during the quarter. Jane Street Group LLC’s holdings in Priority Technology were worth $153,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PRTH. Renaissance Technologies LLC acquired a new stake in shares of Priority Technology in the 2nd quarter valued at approximately $202,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Priority Technology in the 2nd quarter valued at approximately $301,000. Rebalance LLC acquired a new stake in shares of Priority Technology in the 3rd quarter valued at approximately $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Priority Technology in the 3rd quarter valued at approximately $112,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after purchasing an additional 7,719 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Priority Technology

In other news, insider Sean Kiewiet sold 170,596 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total value of $1,808,317.60. Following the completion of the sale, the insider now owns 711,853 shares of the company’s stock, valued at $7,545,641.80. This represents a 19.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is currently owned by insiders.

Priority Technology Trading Down 11.8 %

Priority Technology stock opened at $9.44 on Tuesday. The firm has a market capitalization of $728.75 million, a P/E ratio of -22.48 and a beta of 1.17. The stock has a fifty day moving average price of $9.51 and a 200 day moving average price of $7.03. Priority Technology Holdings, Inc. has a 52 week low of $2.82 and a 52 week high of $12.44.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd. Lake Street Capital raised their price target on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, B. Riley raised their price target on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

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.