798,509 Shares in Priority Technology Holdings, Inc. (NASDAQ:PRTH) Acquired by Steamboat Capital Partners LLC

Steamboat Capital Partners LLC acquired a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 798,509 shares of the company's stock, valued at approximately $9,382,000. Priority Technology comprises approximately 2.9% of Steamboat Capital Partners LLC's holdings, making the stock its 13th largest position. Steamboat Capital Partners LLC owned 1.03% of Priority Technology at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PRTH. National Bank of Canada FI acquired a new position in Priority Technology in the fourth quarter worth approximately $56,000. Deutsche Bank AG acquired a new position in Priority Technology during the fourth quarter valued at approximately $60,000. SG Americas Securities LLC acquired a new position in Priority Technology during the fourth quarter valued at approximately $100,000. Wells Fargo & Company MN grew its holdings in Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after purchasing an additional 3,006 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Priority Technology during the fourth quarter valued at approximately $118,000. Institutional investors and hedge funds own 11.52% of the company's stock.

Priority Technology Trading Up 0.5%

PRTH opened at $7.52 on Friday. Priority Technology Holdings, Inc. has a 1-year low of $3.35 and a 1-year high of $12.47. The stock has a market capitalization of $599.74 million, a price-to-earnings ratio of -17.90 and a beta of 1.50. The business has a 50 day moving average of $7.17 and a 200-day moving average of $8.70.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $224.63 million during the quarter, compared to analysts' expectations of $228.81 million. Equities analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen upgraded Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their price target on Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th.

About Priority Technology

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.

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