TimesSquare Capital Management LLC Sells 194,200 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

TimesSquare Capital Management LLC decreased its position in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,995,810 shares of the company’s stock after selling 194,200 shares during the quarter. TimesSquare Capital Management LLC owned approximately 2.94% of Priority Technology worth $13,851,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Priority Technology in the first quarter valued at approximately $43,000. BlackRock Inc. increased its position in Priority Technology by 11.1% during the first quarter. BlackRock Inc. now owns 381,294 shares of the company’s stock worth $2,647,000 after acquiring an additional 38,217 shares during the period. Meeder Asset Management Inc. bought a new position in Priority Technology during the first quarter worth $26,000. Dorsey Wright & Associates bought a new position in Priority Technology during the first quarter worth $34,000. Finally, JPMorgan Chase & Co. increased its position in Priority Technology by 213.0% during the fourth quarter. JPMorgan Chase & Co. now owns 19,244 shares of the company’s stock worth $136,000 after acquiring an additional 13,095 shares during the period. 6.81% of the stock is currently owned by institutional investors.

In other news, Director Stephen W. Hipp bought 45,455 shares of Priority Technology stock in a transaction dated Wednesday, May 19th. The shares were bought at an average price of $6.60 per share, for a total transaction of $300,003.00. Following the purchase, the director now owns 48,386 shares of the company’s stock, valued at $319,347.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Sean Kiewiet sold 5,310 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $7.67, for a total transaction of $40,727.70. Following the completion of the sale, the chief technology officer now owns 1,896,349 shares in the company, valued at approximately $14,544,996.83. The disclosure for this sale can be found here. Insiders sold a total of 35,310 shares of company stock worth $266,628 in the last 90 days. 85.40% of the stock is owned by corporate insiders.

PRTH opened at $7.49 on Friday. Priority Technology Holdings, Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $9.50. The business’s fifty day simple moving average is $7.06. The firm has a market capitalization of $506.71 million, a P/E ratio of 17.42 and a beta of 0.55.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Wednesday, May 12th. The company reported ($0.04) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.04). As a group, analysts predict that Priority Technology Holdings, Inc. will post -0.11 earnings per share for the current year.

A number of brokerages recently issued reports on PRTH. Cowen began coverage on shares of Priority Technology in a research report on Monday, April 5th. They set an “outperform” rating on the stock. Roth Capital boosted their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, March 16th. Alliance Global Partners boosted their target price on shares of Priority Technology from $16.00 to $18.50 in a research report on Tuesday, March 9th. Finally, Zacks Investment Research downgraded shares of Priority Technology from a “hold” rating to a “sell” rating in a research note on Wednesday.

About Priority Technology

Priority Technology Holdings, Inc provides merchant acquiring, integrated payment software, and commercial payment solutions in the United States. It operates through three segments: Consumer Payments, Commercial Payments, and Integrated Partners. The company offers MX product suite, including MX ISO/Agent and VIMAS reseller technology systems, and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B, ACH.com, and others, which provide resellers and merchant clients a customizable set of business applications that enable business work functions and revenue performance management.

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Institutional Ownership by Quarter for Priority Technology (NASDAQ:PRTH)

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