Jacobs Levy Equity Management Inc. Makes New $2.81 Million Investment in Priority Technology Holdings, Inc. $PRTH

Key Points

• Jacobs Levy Equity Management Inc. invested approximately $2.81 million in Priority Technology Holdings, acquiring 412,151 shares, which is about 0.52% of the company's stock.
• Equities analysts upgraded Priority Technology's stock ratings, with Zacks Research raising it to a strong-buy and the average target price set at $13.00.
• Priority Technology reported a quarterly earnings per share of $0.26, surpassing expectations, and has a market capitalization of $620.18 million.

Jacobs Levy Equity Management Inc. bought a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 412,151 shares of the company's stock, valued at approximately $2,809,000. Jacobs Levy Equity Management Inc. owned 0.52% of Priority Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRTH. Steamboat Capital Partners LLC lifted its holdings in shares of Priority Technology by 200.6% during the 1st quarter. Steamboat Capital Partners LLC now owns 2,400,000 shares of the company's stock valued at $16,356,000 after purchasing an additional 1,601,491 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Priority Technology during the 1st quarter valued at $2,292,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Priority Technology during the 1st quarter valued at $645,000. Cetera Investment Advisers purchased a new stake in shares of Priority Technology during the 1st quarter valued at $529,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Priority Technology during the 4th quarter valued at $882,000. Hedge funds and other institutional investors own 11.52% of the company's stock.

Priority Technology Price Performance

Priority Technology stock traded down $0.01 during midday trading on Monday, reaching $7.53. The company had a trading volume of 36,249 shares, compared to its average volume of 567,443. The company has a market capitalization of $601.80 million, a P/E ratio of 28.96 and a beta of 1.64. Priority Technology Holdings, Inc. has a 12-month low of $5.01 and a 12-month high of $12.47. The firm's fifty day simple moving average is $7.62 and its 200-day simple moving average is $7.62.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 4.03% and a negative return on equity of 47.35%. Priority Technology has set its FY 2025 guidance at EPS. On average, analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PRTH has been the subject of several analyst reports. Wall Street Zen upgraded Priority Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Cowen reiterated a "buy" rating on shares of Priority Technology in a report on Friday, August 8th. Finally, Zacks Research raised Priority Technology from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price 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.