Investors Asset Management of Georgia Inc. GA ADV Boosts Stake in Priority Technology Holdings, Inc. $PRTH

Key Points

• Investors Asset Management of Georgia Inc. GA ADV increased its stake in Priority Technology Holdings by 44.6%, owning 136,960 shares valued at $1,066,000 as of the latest SEC filing.
• Priority Technology's stock has been recently rated with a consensus of "Moderate Buy" by analysts, with one Strong Buy and four Buy ratings.
• For the most recent quarter, Priority Technology reported an EPS of $0.26, beating expectations, with revenue of $239.81 million against a forecast of $239.63 million.

Investors Asset Management of Georgia Inc. GA ADV increased its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 44.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,960 shares of the company's stock after buying an additional 42,260 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV owned about 0.17% of Priority Technology worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Steamboat Capital Partners LLC boosted its holdings in shares of Priority Technology by 200.6% in the first quarter. Steamboat Capital Partners LLC now owns 2,400,000 shares of the company's stock valued at $16,356,000 after acquiring an additional 1,601,491 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Priority Technology in the 1st quarter valued at $2,809,000. Acadian Asset Management LLC boosted its stake in Priority Technology by 825.3% during the 1st quarter. Acadian Asset Management LLC now owns 357,473 shares of the company's stock worth $2,431,000 after purchasing an additional 318,839 shares during the period. AQR Capital Management LLC purchased a new position in Priority Technology during the 1st quarter worth $2,292,000. Finally, Corsair Capital Management L.P. increased its stake in Priority Technology by 15.4% in the first quarter. Corsair Capital Management L.P. now owns 143,418 shares of the company's stock valued at $977,000 after purchasing an additional 19,110 shares during the period. Institutional investors and hedge funds own 11.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRTH. Zacks Research downgraded shares of Priority Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Priority Technology in a research note on Saturday, September 27th. Wall Street Zen upgraded Priority Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Cowen reissued a "buy" rating on shares of Priority Technology in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Priority Technology Trading Up 2.2%

Priority Technology stock opened at $6.98 on Monday. The stock has a fifty day moving average price of $7.51 and a 200 day moving average price of $7.52. Priority Technology Holdings, Inc. has a 52 week low of $5.01 and a 52 week high of $12.47. The firm has a market capitalization of $557.84 million, a P/E ratio of 26.85 and a beta of 1.86.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $239.81 million during the quarter, compared to analysts' expectations of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS 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.

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