Norwood Investment Partners LP Purchases New Holdings in Priority Technology Holdings, Inc. $PRTH

Norwood Investment Partners LP purchased a new stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 629,869 shares of the company’s stock, valued at approximately $3,433,000. Priority Technology accounts for approximately 3.9% of Norwood Investment Partners LP’s portfolio, making the stock its 12th largest holding. Norwood Investment Partners LP owned approximately 0.77% of Priority Technology at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Priority Technology during the second quarter valued at about $29,000. BNP Paribas Financial Markets increased its stake in Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after acquiring an additional 1,863 shares during the period. Strs Ohio bought a new position in Priority Technology during the first quarter valued at about $46,000. AXQ Capital LP acquired a new stake in Priority Technology during the fourth quarter valued at approximately $80,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Priority Technology during the second quarter valued at approximately $82,000. 11.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD Securities decreased their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a report on Friday, March 27th. Zacks Research raised Priority Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. TD Cowen decreased their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Finally, Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Priority Technology currently has an average rating of “Moderate Buy” and a consensus price target of $8.75.

Priority Technology Price Performance

Shares of PRTH opened at $6.40 on Wednesday. The company has a market capitalization of $527.10 million, a P/E ratio of 9.01 and a beta of 1.55. Priority Technology Holdings, Inc. has a one year low of $4.44 and a one year high of $8.89. The business’s 50 day simple moving average is $5.63 and its 200-day simple moving average is $5.55.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Monday, May 11th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. The business had revenue of $249.56 million for the quarter, compared to the consensus estimate of $242.87 million. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%. On average, sell-side analysts anticipate that Priority Technology Holdings, Inc. will post 1.24 EPS for the current fiscal year.

Priority Technology 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.