Quantbot Technologies LP Purchases Shares of 10,674 Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Quantbot Technologies LP purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,674 shares of the company’s stock, valued at approximately $125,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology during the 3rd quarter worth approximately $112,000. Charles Schwab Investment Management Inc. increased its position in shares of Priority Technology by 15.8% during 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 during the period. BNP Paribas Financial Markets raised its stake in Priority Technology by 61.7% during 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 during 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 valued at $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 third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRTH shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Priority Technology in a research report on Friday, March 7th. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research note on Tuesday, March 18th.

Insider Activity

In other news, Director John Vito Priore sold 3,454,575 shares of Priority Technology stock in a transaction dated Friday, January 17th. The shares were 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 owns 5,314,430 shares in the company, valued at $39,539,359.20. This trade represents a 39.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Ranjana Ram sold 6,615 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $49,215.60. Following the sale, the chief operating officer now directly owns 686,389 shares in the company, valued at $5,106,734.16. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,122,431 shares of company stock valued at $38,110,887 in the last ninety days. 76.30% of the stock is currently owned by insiders.

Priority Technology Stock Down 9.2 %

PRTH stock opened at $6.75 on Monday. The business has a 50 day moving average of $9.35 and a 200-day moving average of $8.54. The firm has a market cap of $536.75 million, a PE ratio of -16.07 and a beta of 0.99. Priority Technology Holdings, Inc. has a 12-month low of $2.82 and a 12-month high of $12.47.

Priority Technology Company 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.