BNP Paribas Financial Markets Purchases 6,096 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

BNP Paribas Financial Markets raised its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 61.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,983 shares of the company’s stock after purchasing an additional 6,096 shares during the period. BNP Paribas Financial Markets’ holdings in Priority Technology were worth $109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PRTH. Pekin Hardy Strauss Inc. grew its position in Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after buying an additional 9,675 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 7,719 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology in the third quarter valued at approximately $112,000. Rebalance LLC bought a new stake in Priority Technology during the third quarter valued at approximately $4,822,000. Finally, Renaissance Technologies LLC purchased a new position in Priority Technology in the 2nd quarter worth approximately $202,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Stock Down 4.9 %

Shares of NASDAQ:PRTH opened at $8.95 on Thursday. The company’s fifty day moving average is $7.70 and its 200 day moving average is $6.21. Priority Technology Holdings, Inc. has a 52 week low of $2.82 and a 52 week high of $10.44. The stock has a market cap of $690.92 million, a PE ratio of -21.31 and a beta of 1.20.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 4,483 shares of the 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 completion of the sale, the insider now directly owns 1,065,158 shares in the company, valued at $6,390,948. This represents a 0.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 76,666 shares of company stock worth $655,166. Company insiders own 76.30% of the company’s stock.

Analysts Set New Price Targets

PRTH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Lake Street Capital upped 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, B. Riley boosted their target price 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 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.