Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Sells $2,188,602.48 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 294,167 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the sale, the chief executive officer now directly owns 34,025,319 shares of the company’s stock, valued at $253,148,373.36. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, January 21st, Thomas Charles Priore sold 105,833 shares of Priority Technology stock. The shares were sold at an average price of $7.44, for a total value of $787,397.52.

Priority Technology Trading Up 0.9 %

NASDAQ:PRTH opened at $9.11 on Friday. Priority Technology Holdings, Inc. has a 12-month low of $2.82 and a 12-month high of $12.44. The stock has a 50-day moving average price of $9.77 and a 200 day moving average price of $7.22. The stock has a market capitalization of $703.29 million, a P/E ratio of -21.69 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last released 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. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The firm had revenue of $227.05 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter last year, the business posted ($0.16) earnings per share. On average, research analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Priority Technology

Institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares during the last quarter. Rebalance LLC bought a new position in Priority Technology during the third quarter valued at approximately $4,822,000. Jane Street Group LLC boosted its stake in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after buying an additional 1,293 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 buying an additional 21,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after buying an additional 7,719 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on PRTH shares. Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $10.00 to $14.00 in a report on Thursday, January 16th. B. Riley lifted their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Lake Street Capital increased their price target on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

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.