Rebalance LLC Lowers Stock Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rebalance LLC cut its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 42.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,114 shares of the company’s stock after selling 301,850 shares during the quarter. Priority Technology makes up about 0.4% of Rebalance LLC’s holdings, making the stock its 26th biggest position. Rebalance LLC owned approximately 0.52% of Priority Technology worth $4,748,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Priority Technology during the 4th quarter valued at $100,000. Virtu Financial LLC purchased a new stake in Priority Technology during the third quarter worth about $91,000. BNP Paribas Financial Markets increased its holdings in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Priority Technology in the third quarter valued at about $112,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in Priority Technology in the fourth quarter valued at about $237,000. 11.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRTH shares. B. Riley lifted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital raised their target price on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $12.00 price target (down previously from $14.00) on shares of Priority Technology in a research report on Friday.

Insider Buying and Selling at Priority Technology

In related news, insider Sean Kiewiet sold 170,596 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the sale, the insider now directly owns 711,853 shares in the company, valued at $7,545,641.80. This represents a 19.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Vito Priore sold 1,242,856 shares of Priority Technology stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the completion of the transaction, the director now directly owns 4,071,574 shares in the company, valued at $30,292,510.56. This trade represents a 23.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,293,227 shares of company stock valued at $39,921,204 in the last three months. Company insiders own 76.30% of the company’s stock.

Priority Technology Trading Down 1.2 %

PRTH opened at $7.66 on Monday. The company has a 50 day moving average of $10.28 and a 200 day moving average of $8.34. Priority Technology Holdings, Inc. has a 12 month low of $2.82 and a 12 month high of $12.47. The company has a market cap of $591.34 million, a PE ratio of -18.24 and a beta of 0.99.

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.