John Vito Priore Sells 1,242,856 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 1,242,856 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total value of $9,246,848.64. Following the completion of the sale, the director now directly owns 4,071,574 shares in the company, valued at approximately $30,292,510.56. The trade was a 23.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, January 17th, John Vito Priore sold 3,454,575 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $25,702,038.00.

Priority Technology Price Performance

NASDAQ PRTH opened at $9.03 on Friday. The firm has a market capitalization of $697.12 million, a P/E 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. The business’s 50-day simple moving average is $9.76 and its 200-day simple moving average is $7.21.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.12. The business 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 period last year, the business posted ($0.16) EPS. On average, equities research analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Priority Technology

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Priority Technology during the 4th quarter valued at about $100,000. Virtu Financial LLC purchased a new stake in shares of Priority Technology during the 3rd quarter valued at about $91,000. BNP Paribas Financial Markets raised its holdings in shares of Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after buying an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology during the 3rd quarter worth approximately $112,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Priority Technology during the 4th quarter worth approximately $237,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PRTH shares. B. Riley lifted their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Lake Street Capital lifted their price objective on 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 raised Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price objective for the company 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.