Norwood Investment Partners LP Invests $3.43 Million in Priority Technology Holdings, Inc. $PRTH

Norwood Investment Partners LP acquired a new position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 629,869 shares of the company’s stock, valued at approximately $3,433,000. Priority Technology accounts for about 3.9% of Norwood Investment Partners LP’s portfolio, making the stock its 12th largest holding.

Several other institutional investors have also recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Priority Technology by 19.6% during the 4th quarter. Barclays PLC now owns 42,703 shares of the company’s stock valued at $233,000 after acquiring an additional 7,013 shares during the last quarter. Quarry LP raised its position in shares of Priority Technology by 92.7% during the 4th quarter. Quarry LP now owns 169,819 shares of the company’s stock valued at $926,000 after acquiring an additional 81,697 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Priority Technology by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 224,695 shares of the company’s stock valued at $1,225,000 after acquiring an additional 6,324 shares during the last quarter. State Street Corp raised its position in shares of Priority Technology by 5.9% during the 4th quarter. State Street Corp now owns 454,225 shares of the company’s stock valued at $2,476,000 after acquiring an additional 25,293 shares during the last quarter. Finally, Boston Partners raised its position in shares of Priority Technology by 22.0% during the 4th quarter. Boston Partners now owns 34,647 shares of the company’s stock valued at $189,000 after acquiring an additional 6,258 shares during the last quarter. Institutional investors own 11.52% of the company’s stock.

Analyst Upgrades and Downgrades

PRTH has been the subject of several recent research reports. TD Securities dropped their target price on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Priority Technology from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. Zacks Research upgraded shares of Priority Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, TD Cowen dropped their target price on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Priority Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Priority Technology Stock Up 1.7%

PRTH opened at $6.40 on Wednesday. Priority Technology Holdings, Inc. has a 12 month low of $4.44 and a 12 month high of $8.89. The company has a fifty day simple moving average of $5.63 and a 200 day simple moving average of $5.55. The stock has a market cap of $527.10 million, a P/E ratio of 9.01 and a beta of 1.55.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings data on Monday, May 11th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Priority Technology had a net margin of 5.85% and a negative return on equity of 83.50%. The business had revenue of $249.56 million during the quarter, compared to analysts’ expectations of $242.87 million. On average, equities research analysts expect that Priority Technology Holdings, Inc. will post 1.24 earnings per share for the current fiscal year.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.