Russell Investments Group Ltd. Makes New Investment in Priority Technology Holdings, Inc. $PRTH

Russell Investments Group Ltd. bought a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,325 shares of the company’s stock, valued at approximately $193,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in Priority Technology in the first quarter worth approximately $529,000. Advisor Resource Council acquired a new stake in Priority Technology in the first quarter worth approximately $328,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Priority Technology in the first quarter worth approximately $645,000. Jefferies Financial Group Inc. acquired a new stake in Priority Technology in the fourth quarter worth approximately $684,000. Finally, Deutsche Bank AG bought a new position in shares of Priority Technology in the fourth quarter valued at $60,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Priority Technology

In other Priority Technology news, General Counsel Bradley J. Miller sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $8.55, for a total transaction of $855,000.00. Following the sale, the general counsel directly owned 243,620 shares of the company’s stock, valued at $2,082,951. The trade was a 29.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 66.20% of the stock is currently owned by company insiders.

Priority Technology Stock Down 1.1%

Shares of NASDAQ:PRTH opened at $8.28 on Wednesday. The company’s fifty day moving average is $7.67 and its two-hundred day moving average is $7.83. Priority Technology Holdings, Inc. has a 12-month low of $5.01 and a 12-month high of $12.47. The company has a market cap of $661.74 million, a P/E ratio of 31.85 and a beta of 1.64.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. The company had revenue of $239.81 million for the quarter, compared to the consensus estimate of $239.63 million. Priority Technology has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PRTH. Keefe, Bruyette & Woods dropped their price target on Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Zacks Research raised Priority Technology from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Cowen reaffirmed a “buy” rating on shares of Priority Technology in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.