Goldman Sachs Group Inc. Sells 101,118 Shares of Priority Technology Holdings, Inc. $PRTH

Key Points

• Goldman Sachs Group Inc. sold 101,118 shares of Priority Technology Holdings, reducing its holdings by 55.4% and owning approximately 0.10% of the company by the end of the first quarter.
• Priority Technology saw its stock price decrease by 2.7%, with the current price at $6.96 and a market capitalization of $556.24 million.
• Analysts have mixed ratings for Priority Technology, with one Strong Buy, four Buy, and one Hold rating, and an average price target of $13.00.

Goldman Sachs Group Inc. lessened its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 55.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,241 shares of the company's stock after selling 101,118 shares during the period. Goldman Sachs Group Inc. owned approximately 0.10% of Priority Technology worth $554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Steamboat Capital Partners LLC raised its position in 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. Jacobs Levy Equity Management Inc. acquired a new stake in Priority Technology in the 1st quarter valued at approximately $2,809,000. Acadian Asset Management LLC raised its position in Priority Technology by 825.3% in the 1st quarter. Acadian Asset Management LLC now owns 357,473 shares of the company's stock valued at $2,431,000 after buying an additional 318,839 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Priority Technology in the 1st quarter valued at approximately $2,292,000. Finally, Corsair Capital Management L.P. raised its position in Priority Technology by 15.4% in the 1st quarter. Corsair Capital Management L.P. now owns 143,418 shares of the company's stock valued at $977,000 after buying an additional 19,110 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company's stock.

Priority Technology Stock Down 2.7%

NASDAQ:PRTH opened at $6.96 on Friday. The firm has a market capitalization of $556.24 million, a price-to-earnings ratio of 26.77 and a beta of 1.64. Priority Technology Holdings, Inc. has a twelve month low of $5.01 and a twelve month high of $12.47. The stock's 50 day moving average price is $7.54 and its two-hundred day moving average price is $7.55.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research lowered Priority Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Finally, Cowen reaffirmed a "buy" rating on shares of Priority Technology in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $13.00.

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.

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