MetLife Investment Management LLC Takes $132,000 Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

MetLife Investment Management LLC purchased a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,256 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors have also recently made changes to their positions in PRTH. Dimensional Fund Advisors LP bought a new stake in Priority Technology in the fourth quarter valued at approximately $487,000. Marshall Wace LLP bought a new stake in Priority Technology during the fourth quarter valued at $429,000. Zacks Investment Management acquired a new stake in Priority Technology during the 4th quarter worth about $165,000. Jump Financial LLC bought a new position in shares of Priority Technology in the 4th quarter worth about $506,000. Finally, Walleye Capital LLC acquired a new position in shares of Priority Technology in the 4th quarter valued at about $1,977,000. Institutional investors own 11.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRTH. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods reduced 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 report on Wednesday.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $6.71 on Friday. The business has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $8.61. The firm has a market capitalization of $535.14 million, a price-to-earnings ratio of -15.98 and a beta of 1.50. Priority Technology Holdings, Inc. has a one year low of $3.35 and a one year high of $12.47.

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