Dimensional Fund Advisors LP Invests $487,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Dimensional Fund Advisors LP purchased a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,568 shares of the company’s stock, valued at approximately $487,000. Dimensional Fund Advisors LP owned about 0.05% of Priority Technology at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. bought a new stake in Priority Technology in the fourth quarter valued at approximately $4,883,000. Arrowstreet Capital Limited Partnership bought a new stake in Priority Technology in the fourth quarter valued at approximately $2,471,000. Renaissance Technologies LLC boosted its holdings in Priority Technology by 405.6% in the fourth quarter. Renaissance Technologies LLC now owns 242,200 shares of the company’s stock valued at $2,846,000 after acquiring an additional 194,300 shares during the last quarter. Walleye Capital LLC bought a new stake in Priority Technology in the fourth quarter valued at approximately $1,977,000. Finally, JPMorgan Chase & Co. boosted its holdings in Priority Technology by 196.5% in the fourth quarter. JPMorgan Chase & Co. now owns 100,528 shares of the company’s stock valued at $1,181,000 after acquiring an additional 66,628 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PRTH. Keefe, Bruyette & Woods reduced their target price on Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

Priority Technology Stock Performance

Priority Technology stock opened at $7.52 on Friday. The stock has a market capitalization of $599.74 million, a price-to-earnings ratio of -17.90 and a beta of 1.50. Priority Technology Holdings, Inc. has a 52-week low of $3.35 and a 52-week high of $12.47. The stock’s 50 day moving average price is $7.17 and its two-hundred day moving average price is $8.68.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The firm had revenue of $224.63 million for the quarter, compared to analysts’ expectations of $228.81 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. On average, equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

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.