TimesSquare Capital Management LLC Trims Position in Priority Technology Holdings, Inc. (NASDAQ:PRTH)

TimesSquare Capital Management LLC reduced its holdings in Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 972,669 shares of the company’s stock after selling 105,548 shares during the period. TimesSquare Capital Management LLC owned about 1.27% of Priority Technology worth $3,463,000 at the end of the most recent quarter.

Insider Activity

In related news, insider Sean Kiewiet sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $3.30, for a total transaction of $33,000.00. Following the sale, the insider now directly owns 1,351,853 shares of the company’s stock, valued at approximately $4,461,114.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 76.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their price target on Priority Technology from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH traded up $0.06 during midday trading on Friday, hitting $3.54. The company’s stock had a trading volume of 3,403 shares, compared to its average volume of 29,238. The business’s 50 day simple moving average is $3.21 and its 200 day simple moving average is $3.34. The company has a market cap of $268.30 million, a P/E ratio of -5.62 and a beta of 0.87. Priority Technology Holdings, Inc. has a 12-month low of $2.62 and a 12-month high of $5.03.

Priority Technology (NASDAQ:PRTH) last posted its earnings results on Thursday, May 9th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $209.08 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts predict that Priority Technology Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

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.