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

Other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC acquired a new stake in Priority Technology in the first quarter valued at $103,000. Corebridge Financial Inc. grew its position in shares of 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 purchasing an additional 1,733 shares in the last quarter. AlphaQuest LLC bought a new stake in Priority Technology in the first quarter worth $37,000. Quantbot Technologies LP raised its stake in shares of Priority Technology by 142.3% during the first quarter. Quantbot Technologies LP now owns 25,858 shares of the company's stock valued at $176,000 after acquiring an additional 15,184 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Priority Technology in the first quarter worth about $179,000. Institutional investors and hedge funds own 11.52% of the company's stock.

Insider Activity at Priority Technology

In related news, General Counsel Bradley J. Miller sold 100,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total value of $855,000.00. Following the transaction, the general counsel owned 243,620 shares in the company, valued at approximately $2,082,951. This trade represents a 29.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Priority Technology from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of Priority Technology from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Cowen reiterated a "buy" rating on shares of Priority Technology in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $13.00.

Priority Technology Price Performance

NASDAQ PRTH traded up $0.03 on Monday, reaching $7.72. The company had a trading volume of 170,951 shares, compared to its average volume of 574,735. The firm has a market capitalization of $616.98 million, a PE ratio of 29.93 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 firm has a 50-day moving average of $7.67 and a 200-day moving average of $7.72.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.26 EPS for the quarter, beating 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 company had revenue of $239.81 million for the quarter, compared to analyst estimates of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

About Priority Technology

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.