Boston Partners Invests $254,000 in Priority Technology Holdings, Inc. $PRTH

Boston Partners bought a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 32,640 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cetera Investment Advisers bought a new position in Priority Technology during the first quarter worth about $529,000. Acadian Asset Management LLC raised its holdings in shares of Priority Technology by 825.3% in the 1st quarter. Acadian Asset Management LLC now owns 357,473 shares of the company’s stock worth $2,431,000 after buying an additional 318,839 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of Priority Technology by 44.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 136,960 shares of the company’s stock worth $1,066,000 after buying an additional 42,260 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Priority Technology by 40.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 184,952 shares of the company’s stock worth $1,439,000 after buying an additional 53,163 shares during the period. Finally, Steamboat Capital Partners LLC boosted its stake in Priority Technology by 200.6% in the 1st quarter. Steamboat Capital Partners LLC now owns 2,400,000 shares of the company’s stock valued at $16,356,000 after buying an additional 1,601,491 shares in the last quarter. Institutional investors own 11.52% of the company’s stock.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH opened at $5.96 on Tuesday. The business has a fifty day moving average of $6.52 and a 200-day moving average of $7.33. Priority Technology Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $12.47. The firm has a market cap of $487.95 million, a PE ratio of 11.25 and a beta of 1.45.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $241.44 million for the quarter, compared to the consensus estimate of $251.74 million. Priority Technology had a negative return on equity of 60.29% and a net margin of 5.78%. Priority Technology has set its FY 2025 guidance at EPS. On average, analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRTH. Zacks Research lowered Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a report on Tuesday, November 25th. Alliance Global Partners reiterated a “buy” rating on shares of Priority Technology in a research report on Thursday, November 6th. Cowen reissued a “buy” rating on shares of Priority Technology in a report on Friday, August 8th. Finally, Keefe, Bruyette & Woods cut shares of Priority Technology from a “moderate buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $6.00 in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

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.