Rebalance LLC Acquires New Stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rebalance LLC acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 705,964 shares of the company’s stock, valued at approximately $4,822,000. Priority Technology accounts for about 0.4% of Rebalance LLC’s portfolio, making the stock its 27th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after purchasing an additional 156,044 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in Priority Technology in the 2nd quarter valued at $301,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the 1st quarter valued at $164,000. Renaissance Technologies LLC acquired a new position in Priority Technology in the 2nd quarter valued at $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Priority Technology in the 1st quarter valued at $91,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 4,483 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the transaction, the insider now directly owns 1,065,158 shares in the company, valued at approximately $6,390,948. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas Charles Priore sold 16,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $5.08, for a total transaction of $81,280.00. Following the completion of the transaction, the chief executive officer now directly owns 34,301,608 shares in the company, valued at approximately $174,252,168.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sean Kiewiet sold 4,483 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total value of $26,898.00. Following the transaction, the insider now owns 1,065,158 shares of the company’s stock, valued at approximately $6,390,948. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,498 shares of company stock worth $367,044. 76.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on PRTH. Keefe, Bruyette & Woods increased their price objective on Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. B. Riley upped their target price on Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd.

Priority Technology Trading Down 2.4 %

NASDAQ:PRTH traded down $0.14 during trading hours on Wednesday, hitting $5.68. The company had a trading volume of 1,516 shares, compared to its average volume of 48,585. The company has a 50-day moving average of $6.01 and a 200 day moving average of $4.93. The company has a market cap of $436.39 million, a P/E ratio of -8.95 and a beta of 0.98. Priority Technology Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $7.38.

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

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.