Rebalance LLC Takes $4.82 Million Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rebalance LLC acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 705,964 shares of the company's stock, valued at approximately $4,822,000. Priority Technology comprises 0.4% of Rebalance LLC's holdings, making the stock its 27th largest position. Rebalance LLC owned 0.92% of Priority Technology as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRTH. State Board of Administration of Florida Retirement System purchased a new stake in shares of Priority Technology during the 1st quarter worth approximately $91,000. Vanguard Group Inc. boosted its holdings in Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company's stock worth $2,494,000 after buying an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Priority Technology in the 1st quarter worth approximately $164,000. Virtu Financial LLC bought a new position in Priority Technology in the 1st quarter worth approximately $50,000. Finally, Williams & Novak LLC bought a new position in Priority Technology in the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 11.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRTH. B. Riley raised their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Priority Technology from $4.50 to $5.00 and gave the stock a "market perform" rating in a report on Friday, August 9th.

Insider Buying and Selling

In related news, CEO Thomas Charles Priore sold 16,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the sale, the chief executive officer now owns 34,301,608 shares of the company's stock, valued at $174,252,168.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Thomas Charles Priore sold 16,000 shares of the company's stock in a transaction that occurred on 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sean Kiewiet sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $5.02, for a total transaction of $50,200.00. Following the completion of the transaction, the insider now owns 1,101,853 shares in the company, valued at approximately $5,531,302.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,498 shares of company stock valued at $367,044 over the last quarter. Corporate insiders own 76.30% of the company's stock.

Priority Technology Stock Performance

NASDAQ:PRTH traded down $0.20 during trading hours on Wednesday, reaching $5.62. The company's stock had a trading volume of 41,419 shares, compared to its average volume of 48,780. Priority Technology Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $7.38. The firm has a 50-day simple moving average of $6.03 and a 200-day simple moving average of $4.94. The firm has a market capitalization of $431.78 million, a price-to-earnings ratio of -8.65 and a beta of 0.98.

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

About Priority Technology

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.