107,243 Shares in Priority Technology Holdings, Inc. $PRTH Bought by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 107,243 shares of the company’s stock, valued at approximately $584,000. Hsbc Holdings PLC owned approximately 0.13% of Priority Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Steamboat Capital Partners LLC increased its position in Priority Technology by 13.5% in the fourth quarter. Steamboat Capital Partners LLC now owns 1,576,734 shares of the company’s stock worth $8,593,000 after buying an additional 187,893 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Priority Technology by 13.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,487,948 shares of the company’s stock valued at $10,222,000 after buying an additional 181,795 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Priority Technology by 1,912.7% during the 4th quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock valued at $3,876,000 after buying an additional 675,803 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Priority Technology by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 660,518 shares of the company’s stock valued at $3,601,000 after acquiring an additional 53,317 shares during the period. Finally, Norwood Investment Partners LP bought a new position in shares of Priority Technology during the 4th quarter valued at approximately $3,433,000. Institutional investors own 11.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Priority Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, June 24th. Finally, Zacks Research cut shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.75.

Priority Technology Stock Down 6.2%

NASDAQ PRTH opened at $6.70 on Thursday. The firm has a market cap of $551.78 million, a price-to-earnings ratio of 9.44 and a beta of 1.54. The business has a 50-day moving average price of $6.44 and a 200-day moving average price of $5.75. Priority Technology Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $8.59.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Monday, May 11th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%.The company had revenue of $249.56 million for the quarter, compared to the consensus estimate of $242.87 million. Research analysts expect that Priority Technology Holdings, Inc. will post 1.24 EPS for the current fiscal 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.