Rebalance LLC Reduces Stock Holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Rebalance LLC lowered its stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 42.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,114 shares of the company’s stock after selling 301,850 shares during the period. Priority Technology accounts for approximately 0.4% of Rebalance LLC’s holdings, making the stock its 26th biggest holding. Rebalance LLC’s holdings in Priority Technology were worth $4,748,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PRTH. Virtu Financial LLC bought a new stake in shares of Priority Technology during the 3rd quarter valued at about $91,000. SG Americas Securities LLC bought a new stake in Priority Technology during the 4th quarter valued at approximately $100,000. BNP Paribas Financial Markets grew its holdings in shares of Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology in the 3rd quarter worth approximately $112,000. Finally, Jane Street Group LLC lifted its stake in shares of Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares during the period. 11.52% of the stock is owned by hedge funds and other institutional investors.

Priority Technology Stock Down 1.2 %

NASDAQ:PRTH opened at $7.66 on Monday. The company’s 50 day moving average price is $10.28 and its 200-day moving average price is $8.34. Priority Technology Holdings, Inc. has a 52 week low of $2.82 and a 52 week high of $12.47. The stock has a market cap of $591.34 million, a price-to-earnings ratio of -18.24 and a beta of 0.99.

Insider Activity

In other news, insider Sean Kiewiet sold 170,596 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the transaction, the insider now directly owns 711,853 shares of the company’s stock, valued at $7,545,641.80. This represents a 19.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Charles Priore sold 294,167 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the completion of the transaction, the chief executive officer now directly owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,293,227 shares of company stock valued at $39,921,204 over the last ninety days. 76.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRTH has been the subject of several recent research reports. B. Riley raised their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $12.00 price objective (down previously from $14.00) on shares of Priority Technology in a research note on Friday. Finally, Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd.

Priority Technology Company 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.