Geode Capital Management LLC Has $2.71 Million Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Geode Capital Management LLC lifted its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 396,335 shares of the company’s stock after purchasing an additional 21,598 shares during the period. Geode Capital Management LLC owned 0.51% of Priority Technology worth $2,707,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of Priority Technology during the second quarter worth approximately $202,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of Priority Technology during the 2nd quarter worth approximately $301,000. Rebalance LLC acquired a new position in shares of Priority Technology in the third quarter valued at $4,822,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology in the third quarter worth $112,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares in the last quarter. Institutional investors own 11.52% of the company’s stock.

Insider Transactions at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.11, for a total transaction of $29,127.00. Following the sale, the insider now owns 1,055,158 shares of the company’s stock, valued at $5,391,857.38. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 231,215 shares of company stock valued at $2,360,486 in the last three months. 76.30% of the stock is owned by corporate insiders.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH opened at $11.33 on Wednesday. The company’s fifty day moving average is $9.08 and its 200-day moving average is $6.87. Priority Technology Holdings, Inc. has a 52 week low of $2.82 and a 52 week high of $12.44. The company has a market capitalization of $874.65 million, a PE ratio of -26.98 and a beta of 1.17.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PRTH. Keefe, Bruyette & Woods raised their price objective on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. B. Riley lifted their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Lake Street Capital increased their target price on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 22nd.

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.