Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Average Recommendation of “Hold” by Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.50.

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods cut their price objective on shares of Priority Technology from $7.50 to $6.50 and set a “market perform” rating for the company in a research report on Friday, August 7th. Alliance Global Partners downgraded shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research note on Thursday, August 6th. Finally, Zacks Research lowered shares of Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Priority Technology in the 2nd quarter valued at $15,788,000. Norwood Investment Partners LP acquired a new position in Priority Technology in the second quarter valued at about $3,615,140. FourWorld Capital Management LLC lifted its position in Priority Technology by 330.0% in the first quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company’s stock valued at $7,476,000 after buying an additional 1,215,583 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Priority Technology in the 4th quarter valued at approximately $584,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Priority Technology in the 2nd quarter worth approximately $664,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Price Performance

Shares of Priority Technology stock opened at $6.01 on Tuesday. The stock’s 50 day simple moving average is $6.03 and its 200-day simple moving average is $5.81. The stock has a market cap of $495.46 million, a P/E ratio of 8.71 and a beta of 1.55. Priority Technology has a 1-year low of $4.44 and a 1-year high of $7.91.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $262.26 million for the quarter, compared to the consensus estimate of $257.81 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. As a group, research analysts expect that Priority Technology will post 1.23 EPS for the current fiscal year.

About Priority Technology

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides commerce and payment-processing solutions to businesses, financial institutions and software providers. Its platform supports card payments, electronic payments and other transaction types, helping clients accept, manage and reconcile payments across in-person, online and business-to-business channels.

The company offers merchant acquiring and payment enablement services, including point-of-sale and e-commerce payment acceptance, payment gateway capabilities, automated clearing house (ACH) transactions, electronic invoicing and accounts-payable solutions.