Quantbot Technologies LP Invests $125,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Quantbot Technologies LP acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,674 shares of the company’s stock, valued at approximately $125,000.

A number of other institutional investors also recently modified their holdings of PRTH. Virtu Financial LLC bought a new position in Priority Technology in the 3rd quarter worth $91,000. SG Americas Securities LLC purchased a new position in shares of Priority Technology in the 4th quarter valued at approximately $100,000. BNP Paribas Financial Markets lifted its position in Priority Technology by 61.7% during the third 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 period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Priority Technology in the 3rd quarter worth about $112,000. Finally, Corient Private Wealth LLC bought a new position in shares of Priority Technology during the fourth quarter valued at approximately $118,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Price Performance

Shares of PRTH stock opened at $6.75 on Monday. Priority Technology Holdings, Inc. has a 1 year low of $2.82 and a 1 year high of $12.47. The firm has a fifty day moving average price of $9.35 and a 200-day moving average price of $8.54. The company has a market cap of $536.75 million, a price-to-earnings ratio of -16.07 and a beta of 0.99.

Insider Activity at Priority Technology

In other news, CEO Thomas Charles Priore sold 294,167 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ranjana Ram sold 18,385 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $136,784.40. Following the completion of the transaction, the chief operating officer now owns 693,004 shares of the company’s stock, valued at $5,155,949.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,122,431 shares of company stock worth $38,110,887. 76.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRTH has been the topic of a number of recent research reports. TD Cowen raised Priority Technology to a “strong-buy” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $12.00 target price (down previously from $14.00) on shares of Priority Technology in a report on Friday, March 7th.

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.