Deutsche Bank AG Makes New Investment in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Deutsche Bank AG purchased a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,096 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Priority Technology in the fourth quarter valued at about $100,000. Rhumbline Advisers lifted its stake in shares of Priority Technology by 9.0% in the 4th quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock worth $279,000 after acquiring an additional 1,964 shares during the period. Bank of New York Mellon Corp boosted its stake in Priority Technology by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock valued at $466,000 after buying an additional 4,366 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Priority Technology by 384.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,515 shares of the company’s stock worth $934,000 after buying an additional 63,100 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in Priority Technology in the 4th quarter worth about $186,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Priority Technology

In related news, Director Marietta Davis sold 9,433 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.22, for a total transaction of $68,106.26. Following the sale, the director now owns 75,136 shares of the company’s stock, valued at approximately $542,481.92. This represents a 11.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PRTH shares. Keefe, Bruyette & Woods dropped their target price on Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. TD Cowen upgraded shares of Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

Priority Technology Stock Performance

Priority Technology stock opened at $8.67 on Wednesday. Priority Technology Holdings, Inc. has a 52-week low of $3.92 and a 52-week high of $12.47. The firm has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $8.79. The firm has a market cap of $691.46 million, a price-to-earnings ratio of -20.64 and a beta of 1.50.

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

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.