Globeflex Capital L P Makes New Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Globeflex Capital L P bought a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,800 shares of the company’s stock, valued at approximately $186,000.

Several other large investors have also modified their holdings of PRTH. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Priority Technology by 384.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,515 shares of the company’s stock valued at $934,000 after buying an additional 63,100 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Priority Technology by 273.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after buying an additional 24,811 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after buying an additional 21,598 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of Priority Technology in the 4th quarter valued at $237,000. Finally, Barclays PLC boosted its holdings in shares of Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Stock Performance

Shares of Priority Technology stock opened at $7.72 on Friday. The company has a market cap of $613.89 million, a P/E ratio of -18.38 and a beta of 0.99. Priority Technology Holdings, Inc. has a one year low of $2.82 and a one year high of $12.47. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $8.39.

Insiders Place Their Bets

In related news, CEO Thomas Charles Priore sold 294,167 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the completion of the sale, the chief executive officer now owns 34,025,319 shares in the company, valued at $253,148,373.36. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Kiewiet sold 170,596 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the sale, the insider now owns 711,853 shares of the company’s stock, valued at $7,545,641.80. This trade represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,293,127 shares of company stock worth $39,920,204. 76.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on PRTH shares. Lake Street Capital upped their price target on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. B. Riley upped their price target on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $12.00 price target (down previously from $14.00) on shares of Priority Technology in a research report on Friday, March 7th.

Priority Technology 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.