AlphaQuest LLC Acquires 26,108 Shares of Priority Technology Holdings, Inc. $PRTH

AlphaQuest LLC lifted its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 480.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,541 shares of the company’s stock after buying an additional 26,108 shares during the quarter. AlphaQuest LLC’s holdings in Priority Technology were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PRTH. Strs Ohio bought a new position in Priority Technology in the 1st quarter valued at $46,000. CWM LLC lifted its position in shares of Priority Technology by 13,386.7% during the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after purchasing an additional 8,032 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Priority Technology during the first quarter valued at $58,000. Corebridge Financial Inc. grew its holdings in shares of Priority Technology by 19.0% in the first quarter. Corebridge Financial Inc. now owns 10,876 shares of the company’s stock worth $74,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Priority Technology by 123.6% in the first quarter. Deutsche Bank AG now owns 11,393 shares of the company’s stock worth $78,000 after purchasing an additional 6,297 shares during the last quarter. 11.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Cowen reiterated a “buy” rating on shares of Priority Technology in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Priority Technology currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Priority Technology Trading Up 1.8%

Shares of NASDAQ:PRTH opened at $6.96 on Friday. The company has a market capitalization of $556.24 million, a PE ratio of 26.77 and a beta of 1.86. Priority Technology Holdings, Inc. has a 12-month low of $5.01 and a 12-month high of $12.47. The business’s fifty day simple moving average is $7.43 and its 200-day simple moving average is $7.54.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Priority Technology had a negative return on equity of 47.35% and a net margin of 4.03%.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. Research analysts predict 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.