Priority Technology Holdings, Inc. (NASDAQ:PRTH) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE raised its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 160.1% during the fourth quarter, HoldingsChannel reports. The firm owned 32,980 shares of the company’s stock after buying an additional 20,299 shares during the period. Bank of America Corp DE’s holdings in Priority Technology were worth $388,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Priority Technology in the fourth quarter valued at about $100,000. Rhumbline Advisers raised its position in shares of Priority Technology by 9.0% in the fourth quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock valued at $279,000 after buying an additional 1,964 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Priority Technology by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock valued at $466,000 after buying an additional 4,366 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Priority Technology by 384.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,515 shares of the company’s stock valued at $934,000 after buying an additional 63,100 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of Priority Technology in the fourth quarter valued at approximately $186,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Stock Down 2.8%

PRTH stock opened at $8.26 on Friday. Priority Technology Holdings, Inc. has a fifty-two week low of $4.00 and a fifty-two week high of $12.47. The firm’s 50-day simple moving average is $7.44 and its 200 day simple moving average is $8.79. The stock has a market cap of $658.76 million, a PE ratio of -19.67 and a beta of 1.51.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

Insider Activity

In related news, Director Marietta Davis sold 9,433 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.22, for a total value of $68,106.26. Following the completion of the sale, the director now owns 75,136 shares in the company, valued at approximately $542,481.92. This represents a 11.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 66.20% of the company’s stock.

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.