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

Rebalance LLC purchased a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 705,964 shares of the company’s stock, valued at approximately $4,822,000. Priority Technology comprises about 0.4% of Rebalance LLC’s portfolio, making the stock its 27th largest position. Rebalance LLC owned approximately 0.92% of Priority Technology at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock worth $2,494,000 after acquiring an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Priority Technology during the first quarter worth about $164,000. Renaissance Technologies LLC purchased a new stake in shares of Priority Technology during the second quarter worth about $202,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Priority Technology during the first quarter worth about $91,000. Finally, Virtu Financial LLC purchased a new stake in Priority Technology in the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Priority Technology Stock Performance

NASDAQ PRTH traded down $0.14 during trading hours on Wednesday, reaching $5.68. The stock had a trading volume of 1,516 shares, compared to its average volume of 48,585. The stock has a fifty day moving average of $6.01 and a 200 day moving average of $4.93. The stock has a market cap of $436.39 million, a P/E ratio of -8.95 and a beta of 0.98. Priority Technology Holdings, Inc. has a 52-week low of $2.79 and a 52-week high of $7.38.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results 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 company had revenue of $219.87 million during the quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PRTH shares. Keefe, Bruyette & Woods upped their target price on Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. B. Riley upped their target price on Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, September 23rd.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 10,000 shares of the business’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 value of $50,200.00. Following the completion of the transaction, the insider now directly owns 1,101,853 shares of the company’s stock, valued at approximately $5,531,302.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Priority Technology 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 transaction, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at approximately $174,252,168.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $50,200.00. Following the transaction, the insider now directly owns 1,101,853 shares of the company’s stock, valued at approximately $5,531,302.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,498 shares of company stock valued at $367,044. 76.30% of the stock is owned by company insiders.

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.