542,000 Shares in Priority Technology Holdings, Inc. $PRTH Bought by Norwood Investment Partners LP

Norwood Investment Partners LP acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the second quarter, HoldingsChannel reports. The firm acquired 542,000 shares of the company’s stock, valued at approximately $3,615,140,000. Priority Technology comprises about 5.0% of Norwood Investment Partners LP’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of Priority Technology in the 1st quarter valued at $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Priority Technology by 25.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after purchasing an additional 2,648 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Priority Technology by 1,134.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock valued at $107,000 after purchasing an additional 14,482 shares during the last quarter. Strs Ohio purchased a new stake in shares of Priority Technology in the 1st quarter valued at about $46,000. Finally, Rhumbline Advisers boosted its position in shares of Priority Technology by 10.2% in the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after purchasing an additional 2,425 shares during the period. 11.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRTH has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their price target on Priority Technology from $7.50 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, August 7th. Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen lowered shares of Priority Technology from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, June 24th. Finally, Alliance Global Partners downgraded shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

Priority Technology Trading Up 0.4%

Priority Technology stock opened at $5.61 on Friday. Priority Technology Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $8.59. The stock has a 50 day moving average of $6.48 and a two-hundred day moving average of $5.81. The stock has a market capitalization of $462.49 million, a price-to-earnings ratio of 8.13 and a beta of 1.57.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%.The business had revenue of $262.26 million for the quarter, compared to analyst estimates of $257.81 million. Equities analysts predict that Priority Technology Holdings, Inc. will post 1.23 earnings per share for the current year.

Priority Technology Company Profile

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.