Priority Technology Holdings, Inc. $PRTH Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has significantly increased its stake in Priority Technology Holdings, Inc. by 554% during the first quarter, now owning approximately 80,240 shares valued at $547,000.
• Priority Technology reported earnings per share (EPS) of $0.26 for the last quarter, surpassing analysts' expectations of $0.25, with total revenue of $239.81 million.
• Analysts have shown confidence in Priority Technology, with several upgrades, leading to a consensus rating of "Buy" and a price target of $13.00 for the stock.

Cubist Systematic Strategies LLC raised its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 554.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,240 shares of the company's stock after acquiring an additional 67,970 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.10% of Priority Technology worth $547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PRTH. Cetera Investment Advisers purchased a new stake in Priority Technology during the first quarter worth approximately $529,000. Advisor Resource Council purchased a new stake in shares of Priority Technology during the 1st quarter worth approximately $328,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Priority Technology in the 1st quarter valued at $645,000. Jefferies Financial Group Inc. acquired a new position in shares of Priority Technology in the 4th quarter valued at $684,000. Finally, Steamboat Capital Partners LLC grew its position in shares of Priority Technology by 200.6% in the 1st quarter. Steamboat Capital Partners LLC now owns 2,400,000 shares of the company's stock valued at $16,356,000 after buying an additional 1,601,491 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company's stock.

Priority Technology Trading Down 2.6%

Shares of PRTH traded down $0.19 during mid-day trading on Tuesday, hitting $7.25. 349,019 shares of the company's stock were exchanged, compared to its average volume of 382,597. Priority Technology Holdings, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $12.47. The business's 50 day moving average is $7.58 and its two-hundred day moving average is $7.59. The firm has a market capitalization of $579.42 million, a P/E ratio of 27.88 and a beta of 1.64.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $239.81 million during the quarter, compared to the consensus estimate of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Priority Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Cowen reissued a "buy" rating on shares of Priority Technology in a report on Friday, August 8th. Finally, Zacks Research upgraded Priority Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, Priority Technology presently has a consensus rating of "Buy" and an average price target of $13.00.

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.