Priority Technology Holdings, Inc. $PRTH Shares Sold by Corsair Capital Management L.P.

Corsair Capital Management L.P. lowered its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,418 shares of the company’s stock after selling 10,000 shares during the period. Corsair Capital Management L.P. owned approximately 0.17% of Priority Technology worth $1,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRTH. Steamboat Capital Partners LLC lifted its stake in Priority Technology by 200.6% during the 1st quarter. Steamboat Capital Partners LLC now owns 2,400,000 shares of the company’s stock valued at $16,356,000 after acquiring an additional 1,601,491 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Priority Technology during the 1st quarter worth about $2,809,000. AQR Capital Management LLC purchased a new position in shares of Priority Technology during the 1st quarter valued at about $2,292,000. Acadian Asset Management LLC boosted its stake in shares of Priority Technology by 825.3% in the first quarter. Acadian Asset Management LLC now owns 357,473 shares of the company’s stock worth $2,431,000 after buying an additional 318,839 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Priority Technology by 447.2% during the second quarter. Russell Investments Group Ltd. now owns 155,005 shares of the company’s stock valued at $1,206,000 after acquiring an additional 126,680 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRTH. Industrial Alliance Securities set a $11.00 price objective on Priority Technology in a research report on Thursday, November 6th. Cowen restated a “buy” rating on shares of Priority Technology in a research report on Friday, August 8th. Keefe, Bruyette & Woods lowered Priority Technology from a “moderate buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Priority Technology currently has an average rating of “Moderate Buy” and an average target price of $8.50.

Priority Technology Stock Performance

Shares of Priority Technology stock opened at $5.84 on Friday. The business’s 50 day moving average price is $6.58 and its 200 day moving average price is $7.35. The company has a market cap of $478.13 million, a price-to-earnings ratio of 11.02 and a beta of 1.85. Priority Technology Holdings, Inc. has a one year low of $4.44 and a one year high of $12.47.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 5.78% and a negative return on equity of 60.29%. Priority Technology has set its FY 2025 guidance at EPS. On average, analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

About Priority Technology

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.