Pekin Hardy Strauss Inc. Takes Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Pekin Hardy Strauss Inc. bought a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 57,000 shares of the company’s stock, valued at approximately $301,000.

Other institutional investors also recently bought and sold shares of the company. Panagora Asset Management Inc. lifted its position in Priority Technology by 22.5% in the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock valued at $152,000 after purchasing an additional 7,812 shares during the last quarter. Williams & Novak LLC bought a new position in shares of Priority Technology in the second quarter worth approximately $77,000. Virtu Financial LLC purchased a new position in shares of Priority Technology in the first quarter worth $50,000. State Board of Administration of Florida Retirement System bought a new stake in Priority Technology during the 1st quarter valued at $91,000. Finally, Renaissance Technologies LLC purchased a new stake in Priority Technology during the 2nd quarter valued at $202,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Sean Kiewiet sold 28,501 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $5.18, for a total value of $147,635.18. Following the completion of the transaction, the insider now directly owns 1,196,320 shares of the company’s stock, valued at $6,196,937.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Thomas Charles Priore sold 16,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the sale, the chief executive officer now owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sean Kiewiet sold 28,501 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $5.18, for a total transaction of $147,635.18. Following the completion of the transaction, the insider now owns 1,196,320 shares of the company’s stock, valued at $6,196,937.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,395 shares of company stock valued at $529,410. Corporate insiders own 76.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research report on Friday, August 9th.

Priority Technology Stock Performance

NASDAQ PRTH opened at $6.73 on Wednesday. The stock has a market cap of $517.07 million, a P/E ratio of -11.60 and a beta of 0.97. Priority Technology Holdings, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $6.86. The stock has a 50 day simple moving average of $5.46 and a two-hundred day simple moving average of $4.36.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. The business had revenue of $219.87 million during the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%.

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.