Dimensional Fund Advisors LP Invests $487,000 in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Dimensional Fund Advisors LP bought a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 41,568 shares of the company’s stock, valued at approximately $487,000.

A number of other institutional investors also recently modified their holdings of the company. Invesco Ltd. acquired a new position in shares of Priority Technology during the fourth quarter worth approximately $4,883,000. Renaissance Technologies LLC raised its position in 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 buying an additional 194,300 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Priority Technology in the 4th quarter valued at $2,471,000. Walleye Capital LLC purchased a new stake in Priority Technology in the 4th quarter valued at $1,977,000. Finally, JPMorgan Chase & Co. raised 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 buying an additional 66,628 shares during the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRTH. Keefe, Bruyette & Woods lowered their price target on Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. TD Cowen raised Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $7.52 on Friday. Priority Technology Holdings, Inc. has a 1 year low of $3.35 and a 1 year high of $12.47. The firm has a market cap of $599.74 million, a PE ratio of -17.90 and a beta of 1.50. The stock has a fifty day moving average price of $7.17 and a 200-day moving average price of $8.68.

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. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The firm had revenue of $224.63 million during the quarter, compared to analyst estimates of $228.81 million. As a group, equities 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.