Cetera Investment Advisers Invests $529,000 in Priority Technology Holdings, Inc. $PRTH

Key Points

• Cetera Investment Advisers has acquired a new stake in Priority Technology Holdings, Inc., purchasing 77,599 shares valued at approximately $529,000.
• Analysts on Wall Street have a consensus rating of "Buy" for PRTH, with a target price of $13.00 per share.
• Priority Technology reported earnings of $0.26 EPS, surpassing estimates, along with a revenue of $239.81 million for the quarter.

Cetera Investment Advisers bought a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 77,599 shares of the company's stock, valued at approximately $529,000. Cetera Investment Advisers owned about 0.10% of Priority Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Steamboat Capital Partners LLC purchased a new position in shares of Priority Technology in the 4th quarter valued at about $9,382,000. Invesco Ltd. purchased a new position in shares of Priority Technology in the 4th quarter valued at about $4,883,000. Divisadero Street Capital Management LP purchased a new position in shares of Priority Technology in the 4th quarter valued at about $4,524,000. Renaissance Technologies LLC boosted its stake in shares of Priority Technology by 405.6% in the 4th 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 period. Finally, Northern Trust Corp boosted its stake in shares of Priority Technology by 16.8% in the 4th quarter. Northern Trust Corp now owns 189,888 shares of the company's stock valued at $2,231,000 after buying an additional 27,379 shares during the period. 11.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PRTH has been the subject of several recent analyst reports. Wall Street Zen upgraded Priority Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen restated a "buy" rating on shares of Priority Technology in a research note on Friday, August 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, Priority Technology has an average rating of "Buy" and an average price target of $13.00.

Priority Technology Stock Performance

Shares of PRTH stock traded down $0.14 during trading hours on Tuesday, reaching $7.89. The company had a trading volume of 531,298 shares, compared to its average volume of 588,968. Priority Technology Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.47. The company has a market capitalization of $630.57 million, a P/E ratio of 30.35 and a beta of 1.51. The stock's fifty day simple moving average is $7.63 and its 200 day simple moving average is $8.00.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%.The business had revenue of $239.81 million during the quarter, compared to analyst estimates of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Insider Activity at Priority Technology

In other news, Director Marietta Davis sold 9,433 shares of Priority Technology 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 transaction, the director directly owned 75,136 shares in the company, valued at approximately $542,481.92. This trade represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction, the general counsel owned 243,620 shares in the company, 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. Company insiders own 66.20% of the company's stock.

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.