Divisadero Street Capital Management LP Purchases New Shares in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Divisadero Street Capital Management LP purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 385,043 shares of the company's stock, valued at approximately $4,524,000. Divisadero Street Capital Management LP owned 0.50% of Priority Technology as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Invesco Ltd. bought a new stake in Priority Technology in the 4th quarter valued at about $4,883,000. Geode Capital Management LLC increased its stake in shares of Priority Technology by 5.8% in the third 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. Renaissance Technologies LLC raised its holdings in shares of Priority Technology by 405.6% during the fourth quarter. Renaissance Technologies LLC now owns 242,200 shares of the company's stock valued at $2,846,000 after buying an additional 194,300 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Priority Technology in the 4th quarter worth approximately $2,471,000. Finally, Northern Trust Corp grew its holdings in Priority Technology by 16.8% in the 4th quarter. Northern Trust Corp now owns 189,888 shares of the company's stock worth $2,231,000 after buying an additional 27,379 shares in the last quarter. Institutional investors own 11.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PRTH shares. TD Cowen upgraded Priority Technology to a "strong-buy" rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods decreased their target price on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Wednesday.

Priority Technology Stock Up 2.2 %

NASDAQ PRTH traded up $0.15 on Friday, reaching $6.86. 457,848 shares of the stock traded hands, compared to its average volume of 301,227. Priority Technology Holdings, Inc. has a 12 month low of $3.35 and a 12 month high of $12.47. The firm's fifty day simple moving average is $7.20 and its 200 day simple moving average is $8.61. The company has a market cap of $547.11 million, a price-to-earnings ratio of -16.33 and a beta of 1.50.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The firm had revenue of $224.63 million for the quarter, compared to analyst estimates of $228.81 million. As a group, equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

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.