Cubist Systematic Strategies LLC Purchases Shares of 12,270 Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Cubist Systematic Strategies LLC purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,270 shares of the company’s stock, valued at approximately $144,000.

A number of other hedge funds also recently bought and sold shares of PRTH. Invesco Ltd. acquired a new stake in Priority Technology in the 4th quarter valued at about $4,883,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Priority Technology in the 4th quarter valued at about $2,471,000. Renaissance Technologies LLC increased its holdings in shares of Priority Technology by 405.6% in the 4th quarter. Renaissance Technologies LLC now owns 242,200 shares of the company’s stock valued at $2,846,000 after acquiring an additional 194,300 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Priority Technology in the 4th quarter valued at about $1,977,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Priority Technology by 196.5% in the 4th quarter. JPMorgan Chase & Co. now owns 100,528 shares of the company’s stock valued at $1,181,000 after acquiring an additional 66,628 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

PRTH has been the topic of a number of recent analyst reports. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods dropped their price objective on Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th.

Priority Technology Stock Up 0.5%

NASDAQ:PRTH opened at $7.52 on Monday. The stock’s 50 day moving average price is $7.17 and its 200 day moving average price is $8.73. The company has a market capitalization of $599.74 million, a PE ratio of -17.90 and a beta of 1.50. Priority Technology Holdings, Inc. has a 52-week low of $3.35 and a 52-week high of $12.47.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The firm had revenue of $224.63 million for the quarter, compared to the consensus estimate of $228.81 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. As a group, sell-side analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal 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.