Ritholtz Wealth Management Has $407,000 Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Ritholtz Wealth Management boosted its stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) by 140.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,686 shares of the company's stock after buying an additional 34,906 shares during the period. Ritholtz Wealth Management owned 0.08% of Priority Technology worth $407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Priority Technology by 9.0% during the fourth quarter. Rhumbline Advisers now owns 23,706 shares of the company's stock valued at $279,000 after buying an additional 1,964 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after purchasing an additional 3,006 shares during the last quarter. Barclays PLC grew its stake in shares of Priority Technology by 11.8% in the fourth quarter. Barclays PLC now owns 29,127 shares of the company's stock worth $342,000 after acquiring an additional 3,063 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Priority Technology by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company's stock worth $466,000 after acquiring an additional 4,366 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Priority Technology in the fourth quarter worth $56,000. Institutional investors own 11.52% of the company's stock.

Insider Transactions at Priority Technology

In other Priority Technology news, Director Marietta Davis sold 9,433 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.22, for a total value of $68,106.26. Following the completion of the sale, the director now owns 75,136 shares of the company's stock, valued at approximately $542,481.92. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Bradley J. Miller sold 100,000 shares of the stock in a transaction 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 now owns 243,620 shares of the company's stock, valued at $2,082,951. The trade was a 29.10% decrease in their position. The disclosure for this sale can be found here. 66.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen raised Priority Technology to a "strong-buy" rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods cut their price target on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th.

Priority Technology Stock Up 2.4%

NASDAQ:PRTH traded up $0.19 on Monday, reaching $7.99. The stock had a trading volume of 1,459,511 shares, compared to its average volume of 349,614. The company has a market capitalization of $637.20 million, a P/E ratio of -72.64 and a beta of 1.51. Priority Technology Holdings, Inc. has a 1-year low of $4.13 and a 1-year high of $12.47. The stock has a fifty day moving average price of $7.62 and a 200-day moving average price of $8.68.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its quarterly 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. Priority Technology had a net margin of 3.01% and a negative return on equity of 38.73%. The firm had revenue of $224.63 million for the quarter, compared to analyst estimates of $228.81 million. Sell-side analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

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.