Marshall Wace LLP Acquires Shares of 36,491 Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Marshall Wace LLP acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,491 shares of the company's stock, valued at approximately $429,000.

Several other large investors also recently modified their holdings of the business. Invesco Ltd. bought a new stake in Priority Technology in the 4th quarter valued at $4,883,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Priority Technology in the fourth quarter valued at about $2,471,000. Renaissance Technologies LLC boosted its position in shares of Priority Technology by 405.6% during the fourth quarter. Renaissance Technologies LLC now owns 242,200 shares of the company's stock worth $2,846,000 after buying an additional 194,300 shares during the period. Walleye Capital LLC bought a new position in shares of Priority Technology during the fourth quarter worth about $1,977,000. Finally, JPMorgan Chase & Co. raised its position in Priority Technology by 196.5% in the 4th quarter. JPMorgan Chase & Co. now owns 100,528 shares of the company's stock valued at $1,181,000 after buying an additional 66,628 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PRTH shares. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $12.00 price objective (down from $14.00) on shares of Priority Technology in a research note on Friday, March 7th.

Priority Technology Price Performance

NASDAQ PRTH traded down $0.67 on Tuesday, hitting $6.90. 992,396 shares of the stock were exchanged, compared to its average volume of 294,598. The company has a market capitalization of $550.30 million, a PE ratio of -16.43 and a beta of 1.50. The business's fifty day moving average is $7.46 and its 200 day moving average is $8.63. Priority Technology Holdings, Inc. has a 52 week low of $3.29 and a 52 week high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. Analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS 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.