Pinnacle Wealth Planning Services Inc. acquired a new stake in BTRS Holdings Inc. (NASDAQ: BTRS – Get Rating) in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund bought 11,816 shares of the company, valued at around $88,000.
Several other hedge funds and other institutional investors have also recently changed their positions in BTRS. Advisor Group Holdings Inc. increased its holdings of BTRS shares by 60.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,329 shares of the company valued at $73,000 after purchasing an additional 3,506 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of BTRS in the fourth quarter worth approximately $107,000. ProShare Advisors LLC purchased a new stake in BTRS during the fourth quarter for $112,000. Qube Research & Technologies Ltd acquired a new stake in BTRS during the fourth quarter at a value of $137,000. Finally, the State Board of Administration of Florida Retirement System purchased a new stake in BTRS during the fourth quarter at a value of $137,000. Hedge funds and other institutional investors own 75.70% of the company’s shares.
Separately, Chairman Steven Pinado sold 13,151 shares of the company in a transaction dated Monday, May 16. The stock was sold at an average price of $4.74, for a total transaction of $62,335.74. Following the sale, the president now directly owns 508,150 shares of the company, valued at approximately $2,408,631. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, SVP Andrew J. Herning sold 5,496 shares of the company in a trade dated Wednesday, June 1. The shares were sold at an average price of $4.93, for a total value of $27,095.28. As a result of the sale, the senior vice president now owns 93,105 shares of the company, valued at $459,007.65. The disclosure of this sale can be found here. Insiders sold a total of 19,956 shares of the company worth $95,636 in the past ninety days. 19.40% of the shares are held by insiders.
Shares of BTRS opened at $5.05 on Tuesday. The company’s 50-day moving average is $5.22 and its two-hundred-day moving average is $6.21. The company has a market capitalization of $825.24 million, a P/E ratio of -12.02 and a beta of 0.46. BTRS Holdings Inc. has a fifty-two-week low of $3.95 and a fifty-two-week high of $13.91.
Separately, Citigroup raised its target price on BTRS from $12.00 to $13.00 and gave the stock a “buy” rating in a Friday, March 18 report. One equity research analyst gave the stock a hold rating and eight gave the stock a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.
BTRS profile (Get a rating)
BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that automate business-to-business (B2B) commerce worldwide. The Company operates in two segments, Printing, and Software and Payments. The company offers solutions that cover credit decision and monitoring, online ordering, invoicing, cash application and collections.
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