Investors Asset Management of Georgia Inc. GA ADV Makes New Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 94,700 shares of the company's stock, valued at approximately $645,000. Investors Asset Management of Georgia Inc. GA ADV owned about 0.12% of Priority Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PRTH. National Bank of Canada FI bought a new stake in Priority Technology in the 4th quarter valued at $56,000. Deutsche Bank AG acquired a new position in shares of Priority Technology in the 4th quarter valued at $60,000. Wells Fargo & Company MN raised its stake in shares of Priority Technology by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after buying an additional 3,006 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Priority Technology during the 4th quarter worth about $118,000. Finally, Quantbot Technologies LP acquired a new stake in Priority Technology in the 4th quarter valued at about $125,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on PRTH shares. Keefe, Bruyette & Woods reduced their price objective on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a research note on Tuesday, March 18th.

Priority Technology Stock Down 0.9%

Shares of NASDAQ:PRTH traded down $0.08 during midday trading on Monday, hitting $8.48. The stock had a trading volume of 724,568 shares, compared to its average volume of 377,453. The company's 50-day moving average price is $7.84 and its 200-day moving average price is $8.61. The company has a market capitalization of $676.28 million, a P/E ratio of -77.09 and a beta of 1.44. Priority Technology Holdings, Inc. has a fifty-two week low of $4.13 and a fifty-two week high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.12. The company had revenue of $224.63 million for the quarter, compared to analyst estimates of $228.81 million. Priority Technology had a net margin of 3.01% and a negative return on equity of 38.73%. Research analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Bradley J. Miller sold 100,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $8.55, for a total value of $855,000.00. Following the completion of the sale, the general counsel owned 243,620 shares in the company, valued at $2,082,951. This represents a 29.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marietta Davis sold 9,433 shares of the stock in a transaction dated 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 owned 75,136 shares of the company's stock, valued at approximately $542,481.92. The trade was a 11.15% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 66.20% of the company's stock.

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.