Pekin Hardy Strauss Inc. Makes New Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Pekin Hardy Strauss Inc. purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,000 shares of the company’s stock, valued at approximately $301,000. Pekin Hardy Strauss Inc. owned 0.07% of Priority Technology as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after purchasing an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Priority Technology in the 1st quarter worth about $164,000. Panagora Asset Management Inc. lifted its stake in Priority Technology by 22.5% in the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock valued at $152,000 after buying an additional 7,812 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Priority Technology in the 1st quarter valued at about $91,000. Finally, Virtu Financial LLC bought a new position in Priority Technology in the first quarter worth approximately $50,000. Institutional investors own 11.52% of the company’s stock.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 28,501 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $5.18, for a total value of $147,635.18. Following the transaction, the insider now owns 1,196,320 shares of the company’s stock, valued at $6,196,937.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total value of $81,280.00. Following the completion of the sale, the chief executive officer now owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Kiewiet sold 28,501 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $5.18, for a total value of $147,635.18. Following the completion of the sale, the insider now directly owns 1,196,320 shares of the company’s stock, valued at approximately $6,196,937.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,395 shares of company stock valued at $529,410. Insiders own 76.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 9th.

Priority Technology Stock Performance

Priority Technology stock opened at $6.73 on Wednesday. The stock has a market cap of $517.07 million, a PE ratio of -11.60 and a beta of 0.97. The firm’s 50-day simple moving average is $5.46 and its 200 day simple moving average is $4.36. Priority Technology Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $6.86.

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

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.