Bank of New York Mellon Corp Purchases 4,366 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Bank of New York Mellon Corp boosted its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 12.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,693 shares of the company’s stock after buying an additional 4,366 shares during the quarter. Bank of New York Mellon Corp’s holdings in Priority Technology were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Priority Technology in the 3rd quarter worth about $112,000. Charles Schwab Investment Management Inc. raised its stake in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares in the last quarter. Jane Street Group LLC lifted its holdings in Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after buying an additional 1,293 shares during the period. Finally, Barclays PLC boosted its position in Priority Technology by 255.9% during 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. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Analyst Ratings Changes

PRTH has been the topic of a number of research reports. TD Cowen upgraded shares of Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $12.00 price objective (down previously from $14.00) on shares of Priority Technology in a research note on Friday, March 7th.

Priority Technology Stock Down 0.9 %

Shares of Priority Technology stock opened at $7.43 on Friday. The firm has a market cap of $590.83 million, a price-to-earnings ratio of -17.69 and a beta of 0.99. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.47. The business has a 50-day moving average price of $9.39 and a 200-day moving average price of $8.50.

Insider Buying and Selling

In other Priority Technology news, Director John Vito Priore sold 3,454,575 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $25,702,038.00. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ranjana Ram sold 6,615 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now owns 686,389 shares in the company, valued at $5,106,734.16. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,122,431 shares of company stock valued at $38,110,887 in the last ninety days. 76.30% of the stock is owned by company insiders.

About Priority Technology

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.