Stone Point Capital LLC Sells 1,707,874 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Stone Point Capital LLC lessened its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,485,165 shares of the company's stock after selling 1,707,874 shares during the quarter. Priority Technology comprises approximately 3.3% of Stone Point Capital LLC's holdings, making the stock its 5th largest position. Stone Point Capital LLC owned approximately 4.51% of Priority Technology worth $40,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PRTH. JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 66,628 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Priority Technology by 384.4% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 21,598 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in shares of Priority Technology in the 4th quarter worth $237,000. Finally, Barclays PLC lifted its holdings in shares of Priority Technology by 255.9% in the third quarter. Barclays PLC now owns 26,064 shares of the company's stock valued at $178,000 after buying an additional 18,741 shares during the period. Institutional investors own 11.52% of the company's stock.

Priority Technology Trading Up 0.7 %

Shares of Priority Technology stock traded up $0.05 on Wednesday, reaching $7.42. 212,568 shares of the company were exchanged, compared to its average volume of 687,712. Priority Technology Holdings, Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.47. The firm has a market capitalization of $590.03 million, a price-to-earnings ratio of -17.67 and a beta of 0.99. The stock has a fifty day moving average price of $9.28 and a 200-day moving average price of $8.56.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PRTH shares. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $12.00 target price (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th.

Insiders Place Their Bets

In related news, COO Ranjana Ram sold 18,385 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 693,004 shares of the company's stock, valued at approximately $5,155,949.76. This represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Vito Priore sold 3,454,575 shares of Priority Technology stock in a transaction dated 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 transaction, the director now directly owns 5,314,430 shares in the company, valued at approximately $39,539,359.20. This trade represents a 39.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,122,431 shares of company stock worth $38,110,887. Company insiders own 76.30% of the company's stock.

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.