Rhumbline Advisers Has $279,000 Holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rhumbline Advisers grew its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 9.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,706 shares of the company’s stock after buying an additional 1,964 shares during the quarter. Rhumbline Advisers’ holdings in Priority Technology were worth $279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRTH. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Priority Technology during the third quarter worth approximately $112,000. Charles Schwab Investment Management Inc. lifted its holdings in Priority Technology by 15.8% during the 3rd 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 in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Priority Technology by 17.0% during the 3rd 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. BNP Paribas Financial Markets boosted its position in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after buying an additional 6,096 shares during the last quarter. Finally, Corsair Capital Management L.P. increased its stake in shares of Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after buying an additional 10,000 shares during the period. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Stock Down 1.2 %

PRTH stock opened at $7.66 on Monday. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.47. The company has a market cap of $591.34 million, a P/E ratio of -18.24 and a beta of 0.99. The business’s fifty day moving average is $10.28 and its 200-day moving average is $8.34.

Insider Buying and Selling at Priority Technology

In other news, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total value of $1,808,317.60. Following the completion of the transaction, the insider now owns 711,853 shares of the company’s stock, valued at $7,545,641.80. The trade was a 19.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Charles Priore sold 294,167 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was 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 directly owns 34,025,319 shares in the company, valued at $253,148,373.36. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,293,227 shares of company stock valued at $39,921,204. 76.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PRTH shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $12.00 price target (down previously from $14.00) on shares of Priority Technology in a research note on Friday. B. Riley upped their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd.

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.