69,819 Shares in Priority Technology Holdings, Inc. $PRTH Acquired by Quarry LP

Key Points

• Quarry LP invested approximately $476,000 in Priority Technology Holdings, acquiring 69,819 shares, which represents 0.09% of the company.
• Priority Technology reported an earnings per share (EPS) of $0.26 for the last quarter, surpassing analysts' estimates of $0.25.
• The stock currently has a consensus rating of "Buy" from analysts, with a target price of $13.00.

Quarry LP acquired a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 69,819 shares of the company's stock, valued at approximately $476,000. Quarry LP owned about 0.09% of Priority Technology as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Corsair Capital Management L.P. boosted its stake in shares of Priority Technology by 15.4% during the first quarter. Corsair Capital Management L.P. now owns 143,418 shares of the company's stock valued at $977,000 after acquiring an additional 19,110 shares during the last quarter. State of Wyoming acquired a new stake in shares of Priority Technology during the first quarter valued at $229,000. Ieq Capital LLC acquired a new stake in shares of Priority Technology during the first quarter valued at $103,000. Corebridge Financial Inc. boosted its stake in shares of Priority Technology by 19.0% during the first quarter. Corebridge Financial Inc. now owns 10,876 shares of the company's stock valued at $74,000 after acquiring an additional 1,733 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Priority Technology during the first quarter valued at $37,000. Institutional investors and hedge funds own 11.52% of the company's stock.

Wall Street Analyst Weigh In

PRTH has been the topic of a number of analyst reports. Zacks Research raised Priority Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Keefe, Bruyette & Woods decreased their price target on Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Cowen reissued a "buy" rating on shares of Priority Technology in a research note on Friday, August 8th. Finally, Wall Street Zen raised Priority Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $13.00.

Priority Technology Stock Down 3.1%

Shares of NASDAQ PRTH traded down $0.25 during midday trading on Thursday, hitting $7.87. The stock had a trading volume of 300,963 shares, compared to its average volume of 577,597. The company has a market capitalization of $628.95 million, a price-to-earnings ratio of 30.27 and a beta of 1.64. Priority Technology Holdings, Inc. has a 1-year low of $5.01 and a 1-year high of $12.47. The company has a fifty day moving average price of $7.67 and a 200 day moving average price of $7.83.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $239.81 million for the quarter, compared to analyst estimates of $239.63 million. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%. Priority Technology has set its FY 2025 guidance at EPS. On average, research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Bradley J. Miller sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total transaction of $855,000.00. Following the transaction, the general counsel directly owned 243,620 shares of the company's stock, valued at approximately $2,082,951. The trade was a 29.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 66.20% of the company's stock.

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.