Ritholtz Wealth Management Buys 12,336 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Ritholtz Wealth Management raised its stake in Priority Technology Holdings, Inc. (NASDAQ:PRTHFree Report) by 99.1% during the fourth quarter, HoldingsChannel reports. The fund owned 24,780 shares of the company’s stock after buying an additional 12,336 shares during the period. Ritholtz Wealth Management’s holdings in Priority Technology were worth $291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rebalance LLC purchased a new stake in Priority Technology during the 3rd quarter valued at about $4,822,000. Renaissance Technologies LLC purchased a new stake in shares of Priority Technology during the second quarter valued at approximately $202,000. JPMorgan Chase & Co. increased its position in shares of Priority Technology by 273.0% during the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after acquiring an additional 24,811 shares in the last quarter. Geode Capital Management LLC raised its holdings in Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after acquiring an additional 21,598 shares during the last quarter. Finally, Barclays PLC lifted its position in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Priority Technology news, insider Sean Kiewiet sold 170,596 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the sale, the insider now directly owns 711,853 shares of the company’s stock, valued at $7,545,641.80. This trade represents a 19.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Vito Priore sold 3,454,575 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the transaction, the director now directly owns 5,314,430 shares of the company’s stock, valued at approximately $39,539,359.20. This trade represents a 39.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,353,646 shares of company stock worth $40,471,373 over the last quarter. 76.30% of the stock is currently owned by corporate insiders.

Priority Technology Stock Up 5.7 %

Shares of NASDAQ:PRTH opened at $9.47 on Thursday. The stock has a market capitalization of $731.07 million, a PE ratio of -22.55 and a beta of 1.17. The firm’s 50 day moving average price is $9.73 and its 200-day moving average price is $7.19. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.44.

Priority Technology (NASDAQ:PRTHGet Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. The firm had revenue of $227.05 million during the quarter, compared to the consensus estimate of $221.15 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. During the same quarter in the previous year, the firm posted ($0.16) EPS. Analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded Priority Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $10.00 to $14.00 in a research note on Thursday, January 16th. Lake Street Capital raised their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, B. Riley increased their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th.

Check Out Our Latest Stock Report on PRTH

Priority Technology Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PRTH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Priority Technology Holdings, Inc. (NASDAQ:PRTHFree Report).

Institutional Ownership by Quarter for Priority Technology (NASDAQ:PRTH)

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