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 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 $25,702,038.00. Following the completion of the transaction, the director now owns 5,314,430 shares in the company, valued at $39,539,359.20. The trade was a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $7.44, for a total value of $9,246,848.64.

Priority Technology Price Performance

NASDAQ:PRTH opened at $9.11 on Friday. The company has a market cap of $703.29 million, a price-to-earnings ratio of -21.69 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. The stock’s 50 day simple moving average is $9.77 and its two-hundred day simple moving average is $7.22.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $227.05 million for the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRTH. Rebalance LLC purchased a new stake in Priority Technology during the third quarter valued at approximately $4,822,000. Renaissance Technologies LLC bought a new position in shares of Priority Technology during the 2nd quarter valued at approximately $202,000. JPMorgan Chase & Co. raised its holdings in Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after buying an additional 24,811 shares during the period. Geode Capital Management LLC lifted its position in Priority Technology by 5.8% in the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after buying an additional 21,598 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in Priority Technology during the fourth quarter worth $237,000. Institutional investors own 11.52% of the company’s stock.

Analyst Ratings Changes

PRTH has been the subject of a number of research analyst reports. B. Riley increased their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a report on Monday, November 25th. Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note 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 stock from $10.00 to $14.00 in a research note on Thursday, January 16th.

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.