Thomas Charles Priore Sells 294,167 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) 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 transaction of $2,188,602.48. Following the completion of 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 Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $7.44, for a total transaction of $787,397.52.

Priority Technology Price Performance

PRTH stock opened at $9.03 on Friday. The company has a 50 day simple moving average of $9.76 and a 200 day simple moving average of $7.21. The stock has a market cap of $697.12 million, a price-to-earnings ratio of -21.50 and a beta of 1.17. Priority Technology Holdings, Inc. has a 1 year low of $2.82 and a 1 year high of $12.44.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. The business had revenue of $227.05 million during the quarter, compared to analysts’ expectations of $221.15 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. During the same period in the prior year, the company earned ($0.16) EPS. On average, equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Priority Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft acquired a new position in Priority Technology during the 4th quarter worth approximately $237,000. SG Americas Securities LLC acquired a new position in Priority Technology in the 4th quarter valued at approximately $100,000. Ritholtz Wealth Management increased its position in Priority Technology by 99.1% in the 4th quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock valued at $291,000 after acquiring an additional 12,336 shares during the period. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 24,811 shares during the period. Finally, Virtu Financial LLC acquired a new position in Priority Technology in the 3rd quarter valued at approximately $91,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $10.00 to $14.00 in a report on Thursday, January 16th. B. Riley upped their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Lake Street Capital upped their price target 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.

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.