Analysts Set Priority Technology Holdings, Inc. (NASDAQ:PRTH) PT at $8.75

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.75.

Several equities research analysts have weighed in on the company. TD Cowen reduced their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Friday, March 27th. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. TD Securities reduced their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research note on Sunday.

Priority Technology Trading Down 3.4%

NASDAQ:PRTH opened at $5.75 on Wednesday. The business’s 50-day moving average is $5.17 and its 200 day moving average is $5.50. Priority Technology has a 12 month low of $4.44 and a 12 month high of $8.89. The company has a market capitalization of $473.57 million, a P/E ratio of 8.10 and a beta of 1.49.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%.The company had revenue of $249.56 million for the quarter, compared to analysts’ expectations of $242.87 million. On average, research analysts forecast that Priority Technology will post 1.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRTH. AQR Capital Management LLC bought a new position in shares of Priority Technology during the first quarter valued at approximately $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Priority Technology by 25.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock valued at $89,000 after buying an additional 2,648 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Priority Technology by 1,134.1% during the first quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock valued at $107,000 after buying an additional 14,482 shares during the last quarter. Strs Ohio bought a new position in shares of Priority Technology during the first quarter valued at approximately $46,000. Finally, Rhumbline Advisers grew its stake in shares of Priority Technology by 10.2% during the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after buying an additional 2,425 shares during the last quarter. Institutional investors own 11.52% of the company’s stock.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.