Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Sells 3,454,575 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 3,454,575 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $25,702,038.00. Following the transaction, the director now directly owns 5,314,430 shares in the company, valued at approximately $39,539,359.20. This trade represents a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

John Vito Priore also recently made the following trade(s):

• On Tuesday, January 21st, John Vito Priore sold 1,242,856 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64.

Priority Technology Trading Up 5.7 %

Shares of PRTH traded up $0.51 during trading hours on Wednesday, hitting $9.47. The company had a trading volume of 803,959 shares, compared to its average volume of 934,146. The company has a market capitalization of $731.07 million, a PE ratio of -22.55 and a beta of 1.17. Priority Technology Holdings, Inc. has a one year low of $2.82 and a one year high of $12.44. The company’s fifty day moving average price is $9.73 and its two-hundred day moving average price is $7.19.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The business had revenue of $227.05 million during the quarter, compared to the consensus estimate of $221.15 million. During the same period in the previous year, the company posted ($0.16) earnings per share. Analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rebalance LLC purchased a new stake in Priority Technology in the third quarter valued at about $4,822,000. Renaissance Technologies LLC acquired a new position in shares of Priority Technology during the second quarter valued at about $202,000. JPMorgan Chase & Co. raised its position in shares of Priority Technology by 273.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after purchasing an additional 24,811 shares during the last quarter. Geode Capital Management LLC boosted its stake in Priority Technology by 5.8% in the 3rd 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 in the last quarter. Finally, Barclays PLC increased its stake in Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after purchasing an additional 18,741 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Priority Technology

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.