Renaissance Technologies LLC Takes Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Renaissance Technologies LLC purchased a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 38,300 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Priority Technology during the 1st quarter valued at $50,000. Williams & Novak LLC bought a new stake in shares of Priority Technology during the 2nd quarter worth $77,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology during the 1st quarter worth $91,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Priority Technology during the 1st quarter worth $164,000. Finally, Vanguard Group Inc. boosted its stake in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after acquiring an additional 156,044 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Priority Technology

In related news, CEO Thomas Charles Priore sold 16,000 shares of Priority Technology stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the completion of the sale, the chief executive officer now owns 34,301,608 shares of the company’s stock, valued at approximately $174,252,168.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Priority Technology news, insider Sean Kiewiet sold 4,483 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total transaction of $26,898.00. Following the transaction, the insider now directly owns 1,065,158 shares in the company, valued at $6,390,948. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Charles Priore sold 16,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the transaction, the chief executive officer now owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,498 shares of company stock valued at $367,044. Insiders own 76.30% of the company’s stock.

Priority Technology Stock Up 0.2 %

Shares of Priority Technology stock opened at $6.34 on Friday. The stock has a market cap of $487.10 million, a PE ratio of -9.75 and a beta of 0.98. The business has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $4.77. Priority Technology Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $7.38.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. The business had revenue of $219.87 million during the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. B. Riley raised their price objective on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods raised their price objective on Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th.

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.