Corsair Capital Management L.P. Increases Holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Corsair Capital Management L.P. raised its holdings in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 10.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,458 shares of the company’s stock after purchasing an additional 10,000 shares during the period. Corsair Capital Management L.P. owned 0.14% of Priority Technology worth $720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Williams & Novak LLC bought a new position in shares of Priority Technology during the second quarter valued at approximately $77,000. Virtu Financial LLC bought a new stake in Priority Technology in the first quarter valued at $50,000. BNP Paribas Financial Markets increased its position in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after purchasing an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology in the 3rd quarter worth $112,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Priority Technology in the 1st quarter worth $91,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

PRTH has been the topic of a number of research reports. Lake Street Capital lifted 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. B. Riley lifted 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. Finally, Keefe, Bruyette & Woods raised their target price on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Friday, November 22nd.

Insiders Place Their Bets

In related news, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. This trade represents a 46.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Kiewiet sold 5,700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the completion of the transaction, the insider now directly owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is currently owned by corporate insiders.

Priority Technology Stock Up 0.8 %

Priority Technology stock opened at $10.10 on Wednesday. The stock’s 50 day moving average is $6.75 and its 200 day moving average is $5.60. The company has a market capitalization of $779.42 million, a P/E ratio of -23.86 and a beta of 1.01. Priority Technology Holdings, Inc. has a twelve month low of $2.79 and a twelve month high of $10.10.

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.