Nuveen LLC Takes Position in Priority Technology Holdings, Inc. $PRTH

Nuveen LLC purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 25,156 shares of the company’s stock, valued at approximately $171,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in 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 acquiring an additional 3,006 shares during the last quarter. Barclays PLC increased its stake in Priority Technology by 11.8% during the fourth quarter. Barclays PLC now owns 29,127 shares of the company’s stock worth $342,000 after acquiring an additional 3,063 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Priority Technology during the fourth quarter worth $487,000. Northern Trust Corp lifted its position in Priority Technology by 16.8% in the fourth quarter. Northern Trust Corp now owns 189,888 shares of the company’s stock valued at $2,231,000 after buying an additional 27,379 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Priority Technology by 23.3% in the fourth quarter. Ameriprise Financial Inc. now owns 120,756 shares of the company’s stock valued at $1,419,000 after buying an additional 22,798 shares during the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Stock Performance

Shares of PRTH opened at $7.69 on Friday. The stock has a market capitalization of $614.58 million, a PE ratio of 29.58 and a beta of 1.64. Priority Technology Holdings, Inc. has a 1 year low of $5.01 and a 1 year high of $12.47. The company’s 50-day simple moving average is $7.67 and its 200-day simple moving average is $7.75.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, topping 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 firm 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. On average, sell-side analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other Priority Technology news, General Counsel Bradley J. Miller sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $8.55, for a total value of $855,000.00. Following the completion of the transaction, the general counsel owned 243,620 shares of the company’s stock, valued at $2,082,951. This trade represents a 29.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 66.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PRTH. Zacks Research raised shares of Priority Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Cowen reaffirmed a “buy” rating on shares of Priority Technology in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.00.

About Priority Technology

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.