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 business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $787,397.52. Following the sale, the chief executive officer now directly owns 33,919,486 shares in the company, valued at approximately $252,360,975.84. This represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 transaction of $2,188,602.48.

Priority Technology Price Performance

Priority Technology stock traded up $0.51 during trading on Wednesday, reaching $9.47. 803,959 shares of the company were exchanged, compared to its average volume of 934,146. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The company has a market capitalization of $731.07 million, a P/E ratio of -22.55 and a beta of 1.17. The stock’s 50 day simple moving average is $9.73 and its two-hundred day simple moving average is $7.19.

Priority Technology (NASDAQ:PRTH) last posted its 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 company had revenue of $227.05 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned ($0.16) earnings per share. As a group, equities analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Priority Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Priority Technology during the 3rd quarter worth approximately $91,000. SG Americas Securities LLC acquired a new stake in shares of Priority Technology in the fourth quarter valued at $100,000. BNP Paribas Financial Markets grew its stake in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology during the 3rd quarter worth about $112,000. Finally, Jane Street Group LLC raised its position in Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

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.