Jacobs Levy Equity Management Inc. Buys Shares of 412,151 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. acquired a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 412,151 shares of the company's stock, valued at approximately $2,809,000. Jacobs Levy Equity Management Inc. owned about 0.52% of Priority Technology at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. AlphaQuest LLC bought a new position in Priority Technology in the 1st quarter valued at $37,000. CWM LLC grew its stake in shares of Priority Technology by 13,386.7% during the first quarter. CWM LLC now owns 8,092 shares of the company's stock worth $55,000 after acquiring an additional 8,032 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Priority Technology during the first quarter worth about $58,000. Deutsche Bank AG purchased a new stake in shares of Priority Technology during the fourth quarter worth about $60,000. Finally, Corebridge Financial Inc. raised its stake in shares of Priority Technology by 19.0% in the first quarter. Corebridge Financial Inc. now owns 10,876 shares of the company's stock worth $74,000 after purchasing an additional 1,733 shares during the last quarter. Institutional investors own 11.52% of the company's stock.

Priority Technology Stock Down 1.2%

PRTH stock traded down $0.09 on Friday, reaching $7.54. 347,093 shares of the company's stock were exchanged, compared to its average volume of 402,941. The stock has a fifty day moving average of $7.64 and a 200-day moving average of $7.68. The firm has a market cap of $602.60 million, a PE ratio of 29.00 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.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. 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 predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Cowen restated a "buy" rating on shares of Priority Technology in a research note on Friday, August 8th. Wall Street Zen upgraded Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Zacks Research upgraded Priority Technology from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus 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.