Advisor Resource Council Acquires Shares of 50,065 Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Advisor Resource Council purchased a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,065 shares of the company's stock, valued at approximately $328,000. Advisor Resource Council owned 0.06% of Priority Technology as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRTH. National Bank of Canada FI acquired a new position in shares of Priority Technology during the 4th quarter worth about $56,000. Deutsche Bank AG acquired a new position in Priority Technology during the fourth quarter valued at approximately $60,000. 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 period. Corient Private Wealth LLC bought a new stake in Priority Technology in the fourth quarter valued at approximately $118,000. Finally, Quantbot Technologies LP acquired a new stake in Priority Technology in the fourth quarter worth $125,000. 11.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently commented on PRTH. Keefe, Bruyette & Woods lowered their price objective 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, May 7th. TD Cowen upgraded Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th.

Priority Technology Price Performance

PRTH traded down $0.22 during trading on Friday, reaching $7.70. The company had a trading volume of 1,311,766 shares, compared to its average volume of 365,044. The business's fifty day moving average price is $7.69 and its 200 day moving average price is $8.66. Priority Technology Holdings, Inc. has a 12 month low of $4.13 and a 12 month high of $12.47. The company has a market cap of $614.08 million, a P/E ratio of -70.00 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. The business had revenue of $224.63 million for the quarter, compared to analysts' expectations of $228.81 million. Priority Technology had a net margin of 3.01% and a negative return on equity of 38.73%. As a group, sell-side analysts predict 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.