Cubist Systematic Strategies LLC Buys Shares of 12,270 Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Cubist Systematic Strategies LLC purchased a new position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,270 shares of the company’s stock, valued at approximately $144,000.

A number of other hedge funds have also modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Priority Technology by 160.1% during the 4th quarter. Bank of America Corp DE now owns 32,980 shares of the company’s stock worth $388,000 after purchasing an additional 20,299 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Priority Technology by 23.3% during the 4th quarter. Ameriprise Financial Inc. now owns 120,756 shares of the company’s stock worth $1,419,000 after purchasing an additional 22,798 shares during the period. Northern Trust Corp grew its holdings in shares of Priority Technology by 16.8% during the 4th quarter. Northern Trust Corp now owns 189,888 shares of the company’s stock worth $2,231,000 after purchasing an additional 27,379 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Priority Technology during the 4th quarter worth $132,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Priority Technology during the 4th quarter worth $487,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Priority Technology Trading Up 0.5%

PRTH opened at $7.52 on Monday. The stock’s 50-day moving average price is $7.17 and its 200 day moving average price is $8.73. Priority Technology Holdings, Inc. has a 12-month low of $3.35 and a 12-month high of $12.47. The firm has a market cap of $599.74 million, a price-to-earnings ratio of -17.90 and a beta of 1.50.

Priority Technology (NASDAQ:PRTH) last posted its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $228.81 million. On average, research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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 report on Wednesday, May 7th. TD Cowen upgraded Priority Technology to a “strong-buy” rating in a 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.