Marshall Wace LLP Invests $429,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI purchased a new stake in shares of Priority Technology in the 4th quarter worth $56,000. SG Americas Securities LLC bought a new stake in shares of Priority Technology during the 4th quarter valued at $100,000. Wells Fargo & Company MN lifted its position in shares of Priority Technology by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after acquiring an additional 3,006 shares in the last quarter. Corient Private Wealth LLC bought a new stake in shares of Priority Technology during the fourth quarter valued at approximately $118,000. Finally, Quantbot Technologies LP bought a new position in shares of Priority Technology during the fourth quarter worth $125,000. 11.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRTH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research report on Wednesday. TD Cowen upgraded shares of Priority Technology to a "strong-buy" rating in a research report on Tuesday, March 18th.

Priority Technology Price Performance

Shares of NASDAQ:PRTH traded up $0.14 on Friday, hitting $6.85. 149,822 shares of the company's stock were exchanged, compared to its average volume of 298,998. Priority Technology Holdings, Inc. has a 12 month low of $3.35 and a 12 month high of $12.47. The business's 50 day simple moving average is $7.25 and its two-hundred day simple moving average is $8.61. The stock has a market capitalization of $546.31 million, a price-to-earnings ratio of -16.31 and a beta of 1.50.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The company had revenue of $224.63 million during the quarter, compared to the consensus estimate of $228.81 million. Equities analysts forecast 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.