Norwood Investment Partners LP Makes New Investment in Priority Technology Holdings, Inc. $PRTH

Norwood Investment Partners LP acquired a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 542,000 shares of the company's stock, valued at approximately $3,615,140. Priority Technology makes up 0.0% of Norwood Investment Partners LP's investment portfolio, making the stock its 9th biggest position. Norwood Investment Partners LP owned about 0.66% of Priority Technology at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. FourWorld Capital Management LLC grew its position in shares of Priority Technology by 330.0% during the 1st quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company's stock worth $7,476,000 after buying an additional 1,215,583 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Priority Technology during the fourth quarter valued at approximately $584,000. Potomac Capital Management Inc. purchased a new position in shares of Priority Technology during the 4th quarter valued at $539,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Priority Technology by 19.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,954 shares of the company's stock worth $181,000 after acquiring an additional 5,307 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Priority Technology in the 3rd quarter worth about $99,000. Institutional investors own 11.52% of the company's stock.

Priority Technology Price Performance

PRTH traded up $0.01 on Friday, hitting $5.42. The company had a trading volume of 223,413 shares, compared to its average volume of 360,372. The firm has a market capitalization of $446.82 million, a P/E ratio of 7.86 and a beta of 1.57. The stock has a fifty day simple moving average of $6.40 and a 200-day simple moving average of $5.81. Priority Technology Holdings, Inc. has a 52-week low of $4.44 and a 52-week high of $8.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $262.26 million during the quarter, compared to the consensus estimate of $257.81 million. Priority Technology had a net margin of 5.61% and a negative return on equity of 104.91%. Equities research analysts expect that Priority Technology Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRTH has been the subject of several research analyst reports. Zacks Research downgraded shares of Priority Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lowered their target price on shares of Priority Technology from $7.50 to $6.50 and set a "market perform" rating on the stock in a research report on Friday, August 7th. Alliance Global Partners downgraded shares of Priority Technology from a "buy" rating to a "neutral" rating and set a $7.00 price target on the stock. in a research note on Thursday, August 6th. Wall Street Zen cut shares of Priority Technology from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Priority Technology in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Priority Technology has an average rating of "Hold" and an average price target of $8.50.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.