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

Knights of Columbus Asset Advisors LLC bought a new stake in Priority Technology Holdings, Inc. (NASDAQ:PRTH) in the third quarter, HoldingsChannel reports. The fund bought 267,845 shares of the company’s stock, valued at approximately $1,840,000.

Other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Priority Technology in the third quarter valued at approximately $190,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Priority Technology in the 3rd quarter valued at about $106,000. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in Priority Technology by 14.5% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 156,885 shares of the company’s stock valued at $1,078,000 after purchasing an additional 19,925 shares during the last quarter. CWM LLC grew its holdings in Priority Technology by 74.2% during the third quarter. CWM LLC now owns 30,549 shares of the company’s stock worth $210,000 after purchasing an additional 13,012 shares during the period. Finally, Squarepoint Ops LLC increased its position in Priority Technology by 312.1% during the second quarter. Squarepoint Ops LLC now owns 115,942 shares of the company’s stock worth $902,000 after buying an additional 87,806 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRTH. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a report on Monday, December 29th. Industrial Alliance Securities set a $11.00 price objective on shares of Priority Technology in a research report on Thursday, November 6th. Alliance Global Partners reissued a “buy” rating on shares of Priority Technology in a research report on Thursday, November 6th. Finally, Wall Street Zen cut shares of Priority Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Priority Technology presently has an average rating of “Hold” and a consensus target price of $8.50.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $5.91 on Friday. Priority Technology Holdings, Inc. has a 52 week low of $4.44 and a 52 week high of $12.47. The firm’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $6.63. The firm has a market cap of $483.86 million, a price-to-earnings ratio of 11.15 and a beta of 1.37.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Priority Technology had a net margin of 5.78% and a negative return on equity of 60.29%. The business had revenue of $241.44 million during the quarter, compared to the consensus estimate of $251.74 million. Sell-side analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current 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.