Advisor Resource Council Makes New $328,000 Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Advisor Resource Council bought a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 50,065 shares of the company's stock, valued at approximately $328,000. Advisor Resource Council owned about 0.06% of Priority Technology at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PRTH. National Bank of Canada FI purchased a new position in Priority Technology during the 4th quarter worth $56,000. Deutsche Bank AG purchased a new position in Priority Technology during the fourth quarter worth about $60,000. Wells Fargo & Company MN boosted 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 worth $101,000 after purchasing an additional 3,006 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Priority Technology in the 4th quarter worth about $118,000. Finally, Quantbot Technologies LP purchased a new stake in Priority Technology in the 4th quarter valued at about $125,000. Institutional investors own 11.52% of the company's stock.

Insider Activity

In other Priority Technology news, Director Marietta Davis sold 9,433 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $7.22, for a total transaction of $68,106.26. Following the sale, the director now owns 75,136 shares in the company, valued at $542,481.92. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Bradley J. Miller sold 100,000 shares of Priority Technology stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $8.55, for a total value of $855,000.00. Following the completion of the transaction, the general counsel now owns 243,620 shares of the company's stock, valued at approximately $2,082,951. This trade represents a 29.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 66.20% of the company's stock.

Analysts Set New Price Targets

PRTH has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. TD Cowen raised Priority Technology to a "strong-buy" rating in a research report on Tuesday, March 18th.

Priority Technology Stock Performance

PRTH traded up $0.06 during midday trading on Tuesday, reaching $8.05. The company had a trading volume of 1,611,234 shares, compared to its average volume of 355,918. Priority Technology Holdings, Inc. has a 12-month low of $4.13 and a 12-month high of $12.47. The business has a 50-day moving average price of $7.64 and a two-hundred day moving average price of $8.68. The stock has a market cap of $641.99 million, a PE ratio of -73.18 and a beta of 1.51.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. Priority Technology had a negative return on equity of 38.73% and a net margin of 3.01%. The business had revenue of $224.63 million for the quarter, compared to the consensus estimate of $228.81 million. On average, research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

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.