Rebalance LLC Sells 301,850 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rebalance LLC trimmed its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 42.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,114 shares of the company's stock after selling 301,850 shares during the period. Priority Technology makes up approximately 0.4% of Rebalance LLC's portfolio, making the stock its 26th biggest position. Rebalance LLC owned approximately 0.52% of Priority Technology worth $4,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PRTH. Virtu Financial LLC bought a new stake in shares of Priority Technology during the third quarter valued at approximately $91,000. SG Americas Securities LLC bought a new stake in Priority Technology during the 4th quarter valued at $100,000. BNP Paribas Financial Markets raised its holdings in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company's stock worth $109,000 after buying an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology in the third quarter valued at $112,000. Finally, Jane Street Group LLC grew its holdings in shares of Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company's stock valued at $153,000 after buying an additional 1,293 shares during the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRTH shares. B. Riley upped their target price on shares of Priority Technology from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Keefe, Bruyette & Woods reissued 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. Finally, Lake Street Capital raised their target price on Priority Technology from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 22nd.

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Insider Activity at Priority Technology

In related news, COO Ranjana Ram sold 18,385 shares of Priority Technology 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 owns 693,004 shares of the company's stock, valued at approximately $5,155,949.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Charles Priore sold 105,833 shares of Priority Technology stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $787,397.52. Following the completion of the transaction, the chief executive officer now owns 33,919,486 shares of the company's stock, valued at $252,360,975.84. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,293,127 shares of company stock worth $39,920,204. 76.30% of the stock is owned by company insiders.

Priority Technology Trading Down 4.1 %

Shares of PRTH traded down $0.31 on Thursday, reaching $7.26. 514,763 shares of the company's stock traded hands, compared to its average volume of 225,884. The stock's 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $8.37. The stock has a market cap of $560.46 million, a PE ratio of -17.29 and a beta of 0.99. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.47.

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.