210,299 Shares in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 210,299 shares of the company's stock, valued at approximately $2,471,000. Arrowstreet Capital Limited Partnership owned about 0.27% of Priority Technology at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company's stock valued at $2,707,000 after acquiring an additional 21,598 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Priority Technology by 196.5% during the fourth quarter. JPMorgan Chase & Co. now owns 100,528 shares of the company's stock valued at $1,181,000 after purchasing an additional 66,628 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Priority Technology by 384.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,515 shares of the company's stock valued at $934,000 after purchasing an additional 63,100 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $386,000 after purchasing an additional 7,719 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Priority Technology by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company's stock worth $466,000 after buying an additional 4,366 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

Priority Technology Price Performance

Shares of Priority Technology stock traded up $0.13 during midday trading on Tuesday, hitting $6.91. The company had a trading volume of 42,806 shares, compared to its average volume of 656,540. The stock has a market cap of $549.48 million, a PE ratio of -16.45 and a beta of 1.20. Priority Technology Holdings, Inc. has a 1-year low of $3.06 and a 1-year high of $12.47. The business's 50 day simple moving average is $8.66 and its two-hundred day simple moving average is $8.54.

Insiders Place Their Bets

In other news, CEO Thomas Charles Priore sold 294,167 shares of Priority Technology stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the sale, the chief executive officer now owns 34,025,319 shares of the company's stock, valued at approximately $253,148,373.36. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Vito Priore sold 3,454,575 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 5,314,430 shares in the company, valued at approximately $39,539,359.20. This represents a 39.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,122,431 shares of company stock worth $38,110,887 in the last ninety days. Insiders own 76.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $12.00 price objective (down from $14.00) on shares of Priority Technology in a research note on Friday, March 7th.

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.