Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore Sells 3,454,575 Shares

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 3,454,575 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was 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 directly owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % 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 Tuesday, January 21st, John Vito Priore sold 1,242,856 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total transaction of $9,246,848.64.

Priority Technology Stock Performance

Shares of Priority Technology stock traded up $0.51 on Wednesday, hitting $9.47. 803,959 shares of the company’s stock were exchanged, compared to its average volume of 934,146. The stock 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 1 year low of $2.82 and a 1 year high of $12.44. The company has a 50-day simple moving average of $9.73 and a 200-day simple moving average of $7.19.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRTH. B. Riley boosted their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Lake Street Capital increased their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $14.00 in a research note on Thursday, January 16th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Rebalance LLC bought a new stake in shares of Priority Technology during the third quarter valued at approximately $4,822,000. Renaissance Technologies LLC purchased a new stake in Priority Technology in the 2nd quarter worth $202,000. JPMorgan Chase & Co. boosted its holdings in shares of Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after purchasing an additional 24,811 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after purchasing an additional 21,598 shares in the last quarter. Finally, Barclays PLC increased its position in Priority Technology by 255.9% in the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after purchasing an additional 18,741 shares during the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

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.