Zacks Investment Management Invests $165,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Zacks Investment Management bought a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,085 shares of the company’s stock, valued at approximately $165,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. National Bank of Canada FI acquired a new position in shares of Priority Technology during the 4th quarter worth approximately $56,000. Virtu Financial LLC bought a new position in shares of Priority Technology in the third quarter valued at about $91,000. SG Americas Securities LLC acquired a new stake in shares of Priority Technology during the 4th quarter worth about $100,000. Wells Fargo & Company MN boosted its holdings in shares of Priority Technology by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after buying an additional 3,006 shares during the period. Finally, Corient Private Wealth LLC acquired a new position in Priority Technology in the 4th quarter valued at about $118,000. Institutional investors own 11.52% of the company’s stock.

Priority Technology Trading Up 3.7 %

NASDAQ PRTH opened at $6.95 on Monday. The company has a market cap of $552.66 million, a price-to-earnings ratio of -16.55 and a beta of 1.20. The company has a 50 day moving average of $8.32 and a 200-day moving average of $8.56. Priority Technology Holdings, Inc. has a 1-year low of $3.06 and a 1-year high of $12.47.

Insiders Place Their Bets

In other Priority Technology news, CEO Thomas Charles Priore sold 105,833 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $787,397.52. Following the transaction, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at $252,360,975.84. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Vito Priore sold 1,242,856 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $9,246,848.64. Following the sale, the director now directly owns 4,071,574 shares of the company’s stock, valued at approximately $30,292,510.56. This trade represents a 23.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,355,304 shares of company stock worth $10,083,462 in the last 90 days. Company insiders own 76.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PRTH. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $12.00 target price (down previously from $14.00) on shares of Priority Technology in a research report on Friday, March 7th. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th.

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.