Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore Sells 105,833 Shares

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 105,833 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $787,397.52. Following the completion of the sale, the chief executive officer now directly owns 33,919,486 shares in the company, valued at approximately $252,360,975.84. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Thomas Charles Priore also recently made the following trade(s):

• On Friday, January 17th, Thomas Charles Priore sold 294,167 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48.

Priority Technology Stock Up 5.7 %

NASDAQ PRTH traded up $0.51 during trading hours on Wednesday, reaching $9.47. The company’s stock had a trading volume of 803,959 shares, compared to its average volume of 934,146. Priority Technology Holdings, Inc. has a 1 year low of $2.82 and a 1 year high of $12.44. The firm’s 50-day moving average price is $9.73 and its 200-day moving average price is $7.19. The company has a market capitalization of $731.07 million, a price-to-earnings ratio of -22.55 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. The firm 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 in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRTH has been the topic of a number of recent research reports. Lake Street Capital raised their price objective on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. B. Riley upped their target price on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $14.00 in a report on Thursday, January 16th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rebalance LLC bought a new position in Priority Technology during the 3rd quarter valued at about $4,822,000. Renaissance Technologies LLC bought a new stake in shares of Priority Technology during the 2nd quarter worth approximately $202,000. JPMorgan Chase & Co. boosted its holdings in 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 acquiring an additional 24,811 shares during the period. Geode Capital Management LLC increased its stake in Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares during the period. Finally, Barclays PLC grew its holdings in shares of 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. 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.