Barclays PLC Increases Stock Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Barclays PLC raised its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 255.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,064 shares of the company’s stock after purchasing an additional 18,741 shares during the period. Barclays PLC’s holdings in Priority Technology were worth $178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRTH. Renaissance Technologies LLC purchased a new position in Priority Technology during the second quarter valued at $202,000. Rebalance LLC purchased a new position in shares of Priority Technology in the 3rd quarter worth about $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Priority Technology in the 3rd quarter worth about $112,000. Charles Schwab Investment Management Inc. raised its position in shares of Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after purchasing an additional 7,719 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in shares of Priority Technology by 17.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after purchasing an additional 9,675 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PRTH shares. Lake Street Capital lifted 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. Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $10.00 to $14.00 in a research report on Thursday, January 16th. Finally, B. Riley lifted 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 Stock Performance

Shares of NASDAQ:PRTH opened at $9.47 on Thursday. Priority Technology Holdings, Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.44. The business has a 50-day simple moving average of $9.73 and a two-hundred day simple moving average of $7.19. The firm has a market cap of $731.07 million, a price-to-earnings ratio of -22.55 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The business had revenue of $227.05 million during the quarter, compared to analyst estimates of $221.15 million. During the same quarter in the previous year, the firm earned ($0.16) EPS. As a group, research analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $10.01, for a total transaction of $222,001.78. Following the completion of the sale, the insider now directly owns 1,009,675 shares in the company, valued at $10,106,846.75. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Charles Priore sold 294,167 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the sale, the chief executive officer now owns 34,025,319 shares of the company’s stock, valued at approximately $253,148,373.36. This represents a 0.86 % decrease in their ownership of the stock. 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 in the last three months. 76.30% of the stock is currently 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.