Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Sells $9,246,848.64 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 1,242,856 shares of Priority Technology stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $9,246,848.64. Following the completion of the transaction, the director now owns 4,071,574 shares in the company, valued at approximately $30,292,510.56. This trade represents a 23.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

John Vito Priore also recently made the following trade(s):

• On Friday, January 17th, John Vito Priore sold 3,454,575 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total transaction of $25,702,038.00.

Priority Technology Stock Up 5.7 %

Shares of PRTH traded up $0.51 on Wednesday, reaching $9.47. The stock had a trading volume of 803,959 shares, compared to its average volume of 934,146. The firm has a 50-day moving average of $9.73 and a 200 day moving average of $7.19. The firm has a market capitalization of $731.07 million, a PE ratio of -22.55 and a beta of 1.17. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.44.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The business had revenue of $227.05 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter last year, the business posted ($0.16) earnings per share. On average, sell-side analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Lake Street Capital increased their price target on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. B. Riley increased their price objective on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $10.00 to $14.00 in a research report on Thursday, January 16th.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Rebalance LLC acquired a new position in shares of Priority Technology during the 3rd quarter worth approximately $4,822,000. Renaissance Technologies LLC purchased a new position in Priority Technology during the second quarter worth $202,000. JPMorgan Chase & Co. raised its holdings in shares of Priority Technology by 273.0% in the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after acquiring an additional 24,811 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after acquiring an additional 21,598 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Priority Technology Company Profile

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.