Priority Technology Holdings, Inc. (NASDAQ:PRTH) is Stone Point Capital LLC’s 5th Largest Position

Stone Point Capital LLC lowered its stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 32.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,485,165 shares of the company’s stock after selling 1,707,874 shares during the quarter. Priority Technology accounts for 3.3% of Stone Point Capital LLC’s holdings, making the stock its 5th biggest holding. Stone Point Capital LLC owned approximately 4.51% of Priority Technology worth $40,951,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Priority Technology during the third quarter valued at approximately $91,000. SG Americas Securities LLC bought a new stake in shares of Priority Technology during the 4th quarter worth approximately $100,000. BNP Paribas Financial Markets boosted its holdings 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 acquiring 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 valued at $112,000. Finally, Corient Private Wealth LLC purchased a new stake in Priority Technology in the fourth quarter worth $118,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Insider Activity at Priority Technology

In other news, Director John Vito Priore sold 3,454,575 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the sale, the director now owns 5,314,430 shares in the company, valued at approximately $39,539,359.20. The trade was a 39.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Ranjana Ram sold 6,615 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now directly owns 686,389 shares of the company’s stock, valued at $5,106,734.16. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,122,431 shares of company stock worth $38,110,887 over the last three months. 76.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PRTH has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $12.00 target price (down from $14.00) on shares of Priority Technology in a research note on Friday, March 7th. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th.

Priority Technology Trading Down 9.2 %

Shares of PRTH stock opened at $6.75 on Friday. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.47. The stock has a fifty day simple moving average of $9.35 and a two-hundred day simple moving average of $8.51. The stock has a market capitalization of $536.75 million, a price-to-earnings ratio of -16.07 and a beta of 0.99.

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.