Walleye Capital LLC Invests $1.98 Million in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Walleye Capital LLC acquired a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 168,272 shares of the company’s stock, valued at approximately $1,977,000. Walleye Capital LLC owned 0.22% of Priority Technology at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PRTH. National Bank of Canada FI bought a new position in shares of Priority Technology during the fourth quarter worth about $56,000. SG Americas Securities LLC acquired a new position in shares of Priority Technology during the fourth quarter worth approximately $100,000. Wells Fargo & Company MN grew its holdings in Priority Technology by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after buying an additional 3,006 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Priority Technology in the 4th quarter valued at approximately $118,000. Finally, Quantbot Technologies LP bought a new stake in Priority Technology during the 4th quarter valued at $125,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Priority Technology

In related news, CEO Thomas Charles Priore sold 105,833 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $787,397.52. Following the completion of the sale, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at approximately $252,360,975.84. This represents a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Vito Priore sold 1,242,856 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the sale, the director now owns 4,071,574 shares of the company’s stock, valued at $30,292,510.56. The trade was a 23.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,355,304 shares of company stock valued at $10,083,462 in the last quarter. Insiders own 76.30% of the company’s stock.

Priority Technology Stock Up 3.7 %

NASDAQ:PRTH opened at $6.95 on Friday. Priority Technology Holdings, Inc. has a 52-week low of $3.06 and a 52-week high of $12.47. The firm has a market cap of $552.66 million, a P/E ratio of -16.55 and a beta of 1.20. The business’s 50-day moving average price is $8.32 and its 200 day moving average price is $8.52.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PRTH. Keefe, Bruyette & Woods restated an “outperform” rating and set a $12.00 price objective (down from $14.00) on shares of Priority Technology in a research note on Friday, March 7th. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research note on Tuesday, March 18th.

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.