Barclays PLC Purchases 3,063 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Barclays PLC increased its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 11.8% during the fourth quarter, Holdings Channel reports. The firm owned 29,127 shares of the company’s stock after buying an additional 3,063 shares during the quarter. Barclays PLC’s holdings in Priority Technology were worth $342,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Invesco Ltd. acquired a new stake in shares of Priority Technology during the 4th quarter worth $4,883,000. Arrowstreet Capital Limited Partnership bought a new stake in Priority Technology during the 4th quarter worth $2,471,000. Renaissance Technologies LLC increased its stake in shares of Priority Technology by 405.6% in the fourth quarter. Renaissance Technologies LLC now owns 242,200 shares of the company’s stock valued at $2,846,000 after buying an additional 194,300 shares during the period. JPMorgan Chase & Co. increased its position in 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Priority Technology by 384.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,515 shares of the company’s stock worth $934,000 after purchasing an additional 63,100 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Stock Performance

Shares of PRTH stock opened at $6.86 on Friday. The company has a market capitalization of $547.11 million, a price-to-earnings ratio of -16.33 and a beta of 1.50. The company has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $8.63. 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 announced its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.12. The firm had revenue of $224.63 million during the quarter, compared to analyst estimates of $228.81 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. On average, sell-side analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PRTH. Keefe, Bruyette & Woods reduced their price objective on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday. TD Cowen raised shares of 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.