State of Wyoming Makes New $229,000 Investment in Priority Technology Holdings, Inc. $PRTH

Key Points

• The State of Wyoming has invested approximately $229,000 in Priority Technology Holdings, acquiring 33,626 shares of the company's stock.
• Priority Technology reported a positive quarterly earnings of $0.26 per share, surpassing analysts' estimates, with revenue reaching $239.81 million.
• Several research firms have recently upgraded their ratings on Priority Technology, with an average rating of "Buy" and a consensus price target of $13.00.

State of Wyoming purchased a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 33,626 shares of the company's stock, valued at approximately $229,000.

Several other large investors have also recently made changes to their positions in PRTH. AlphaQuest LLC bought a new position in shares of Priority Technology in the 1st quarter worth $37,000. CWM LLC increased its position in Priority Technology by 13,386.7% during the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock valued at $55,000 after buying an additional 8,032 shares in the last quarter. US Bancorp DE acquired a new position in Priority Technology during the 1st quarter valued at about $58,000. Deutsche Bank AG acquired a new position in Priority Technology during the 4th quarter valued at about $60,000. Finally, Corebridge Financial Inc. increased its position in Priority Technology by 19.0% during the 1st quarter. Corebridge Financial Inc. now owns 10,876 shares of the company's stock valued at $74,000 after buying an additional 1,733 shares in the last quarter. 11.52% of the stock is owned by institutional investors.

Insider Activity at Priority Technology

In other news, General Counsel Bradley J. Miller sold 100,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total value of $855,000.00. Following the sale, the general counsel owned 243,620 shares in the company, valued at $2,082,951. This represents a 29.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 66.20% of the stock is owned by insiders.

Priority Technology Price Performance

Shares of PRTH remained flat at $7.75 during mid-day trading on Tuesday. The stock had a trading volume of 51,468 shares, compared to its average volume of 572,756. Priority Technology Holdings, Inc. has a 1 year low of $5.01 and a 1 year high of $12.47. The firm has a market capitalization of $619.38 million, a PE ratio of 29.81 and a beta of 1.64. The company has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.70.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.01. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%.The firm had revenue of $239.81 million for the quarter, compared to the consensus estimate of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. Analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRTH. Zacks Research raised Priority Technology from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wall Street Zen raised Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Cowen reaffirmed a "buy" rating on shares of Priority Technology in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.