Jefferies Financial Group Inc. Makes New Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Jefferies Financial Group Inc. purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 58,200 shares of the company's stock, valued at approximately $684,000. Jefferies Financial Group Inc. owned about 0.08% of Priority Technology as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Two Sigma Advisers LP acquired a new stake in shares of Priority Technology during the 4th quarter valued at $327,000. Two Sigma Investments LP acquired a new position in Priority Technology in the fourth quarter valued at $882,000. Steamboat Capital Partners LLC acquired a new stake in Priority Technology during the fourth quarter worth approximately $9,382,000. Occudo Quantitative Strategies LP bought a new position in shares of Priority Technology during the 4th quarter worth approximately $183,000. Finally, Deutsche Bank AG bought a new position in shares of Priority Technology during the 4th quarter worth approximately $60,000. Institutional investors own 11.52% of the company's stock.

Priority Technology Stock Performance

Priority Technology stock traded up $0.30 during midday trading on Friday, hitting $8.55. 637,605 shares of the company's stock were exchanged, compared to its average volume of 319,359. The company has a market cap of $681.89 million, a P/E ratio of -20.36 and a beta of 1.50. The stock has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $8.78. Priority Technology Holdings, Inc. has a 52-week low of $3.92 and a 52-week high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.12. The business had revenue of $224.63 million for the quarter, compared to analysts' expectations of $228.81 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. As a group, sell-side analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRTH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. TD Cowen raised Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th.

Insider Activity

In other news, 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 completion of the sale, the director now directly owns 75,136 shares in the company, valued at approximately $542,481.92. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 66.20% of the company's stock.

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.