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

Ritholtz Wealth Management boosted its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 99.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,780 shares of the company’s stock after acquiring an additional 12,336 shares during the quarter. Ritholtz Wealth Management’s holdings in Priority Technology were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Rebalance LLC bought a new position in shares of Priority Technology during the 3rd quarter valued at about $4,822,000. Renaissance Technologies LLC bought a new position in Priority Technology during the second quarter valued at approximately $202,000. JPMorgan Chase & Co. raised its stake 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 worth $232,000 after acquiring an additional 24,811 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Priority Technology by 5.8% during the third 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 in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after acquiring an additional 18,741 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Insider Transactions at Priority Technology

In related news, CEO Thomas Charles Priore sold 105,833 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $787,397.52. Following the sale, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at $252,360,975.84. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Kiewiet sold 5,700 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the transaction, the insider now directly owns 1,055,158 shares of the company’s stock, valued at $5,391,857.38. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,353,646 shares of company stock valued at $40,471,373. Company insiders own 76.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Priority Technology Trading Up 5.7 %

PRTH stock opened at $9.47 on Thursday. The stock has a market capitalization of $731.07 million, a price-to-earnings ratio of -22.55 and a beta of 1.17. The firm’s 50-day moving average price is $9.73 and its two-hundred day moving average price is $7.19. Priority Technology Holdings, Inc. has a 12-month low of $2.82 and a 12-month high of $12.44.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $221.15 million. During the same quarter last year, the business posted ($0.16) EPS. Equities analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

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.