Knights of Columbus Asset Advisors LLC Buys New Shares in Priority Technology Holdings, Inc. $PRTH

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 267,845 shares of the company’s stock, valued at approximately $1,840,000. Knights of Columbus Asset Advisors LLC owned about 0.34% of Priority Technology at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PRTH. Acadian Asset Management LLC grew its holdings in shares of Priority Technology by 66.2% during the 2nd quarter. Acadian Asset Management LLC now owns 594,095 shares of the company’s stock worth $4,618,000 after purchasing an additional 236,622 shares during the period. AQR Capital Management LLC grew its stake in Priority Technology by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 573,345 shares of the company’s stock valued at $4,461,000 after purchasing an additional 237,004 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Priority Technology by 19.4% during the second quarter. Geode Capital Management LLC now owns 536,349 shares of the company’s stock worth $4,173,000 after buying an additional 87,127 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Priority Technology by 10.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 283,557 shares of the company’s stock worth $2,206,000 after acquiring an additional 26,255 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Priority Technology during the second quarter worth about $1,606,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Price Performance

Priority Technology stock opened at $5.91 on Friday. The firm has a market capitalization of $483.86 million, a P/E ratio of 11.15 and a beta of 1.37. Priority Technology Holdings, Inc. has a 52-week low of $4.44 and a 52-week high of $12.47. The stock has a fifty day moving average price of $5.72 and a two-hundred day moving average price of $6.63.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, November 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $241.44 million during the quarter, compared to analyst estimates of $251.74 million. Priority Technology had a negative return on equity of 60.29% and a net margin of 5.78%. On average, equities research analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PRTH has been the topic of several research reports. Alliance Global Partners reiterated a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Industrial Alliance Securities set a $11.00 target price on Priority Technology in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods cut shares of Priority Technology from a “moderate buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.50.

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.