Occudo Quantitative Strategies LP Acquires New Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Occudo Quantitative Strategies LP acquired a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,597 shares of the company’s stock, valued at approximately $183,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Priority Technology by 9.0% in the 4th quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock valued at $279,000 after purchasing an additional 1,964 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Priority Technology by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock valued at $101,000 after purchasing an additional 3,006 shares during the last quarter. Barclays PLC raised its position in shares of Priority Technology by 11.8% in the 4th quarter. Barclays PLC now owns 29,127 shares of the company’s stock valued at $342,000 after purchasing an additional 3,063 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Priority Technology by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock valued at $466,000 after purchasing an additional 4,366 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Priority Technology in the 4th quarter valued at approximately $56,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRTH has been the subject of several research analyst reports. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods reduced their price target on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th.

Priority Technology Trading Up 0.5%

PRTH opened at $7.52 on Friday. 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 capitalization of $599.74 million, a PE ratio of -17.90 and a beta of 1.50. The firm has a 50 day moving average of $7.17 and a two-hundred day moving average of $8.70.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The company had revenue of $224.63 million during the quarter, compared to analyst estimates of $228.81 million. As a group, analysts predict 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.