US Bancorp DE Invests $58,000 in Priority Technology Holdings, Inc. $PRTH

US Bancorp DE acquired a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,458 shares of the company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Priority Technology by 13,386.7% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after buying an additional 8,032 shares during the period. Deutsche Bank AG purchased a new stake in Priority Technology in the fourth quarter worth $60,000. Wells Fargo & Company MN lifted its position in shares of Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after purchasing an additional 3,006 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Priority Technology during the fourth quarter worth $132,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Priority Technology during the fourth quarter valued at $144,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Priority Technology

In related news, General Counsel Bradley J. Miller sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total transaction of $855,000.00. Following the transaction, the general counsel directly owned 243,620 shares of the company’s stock, valued at $2,082,951. This represents a 29.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Marietta Davis sold 9,433 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $7.22, for a total value of $68,106.26. Following the sale, the director owned 75,136 shares in the company, valued at $542,481.92. The trade was a 11.15% decrease in their position. The disclosure for this sale can be found here. 66.20% of the stock is owned by insiders.

Priority Technology Price Performance

PRTH opened at $8.03 on Tuesday. The firm has a market capitalization of $641.76 million, a PE ratio of 30.88 and a beta of 1.51. The business’s 50-day moving average is $7.63 and its two-hundred day moving average is $8.00. Priority Technology Holdings, Inc. has a 1 year low of $4.62 and a 1 year high of $12.47.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $239.81 million during the quarter, compared to analyst estimates of $239.63 million. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. As a group, sell-side analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PRTH. Wall Street Zen upgraded shares of Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods reduced their target price on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Cowen reiterated a “buy” rating on shares of Priority Technology in a report on Friday, August 8th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.00.

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.