Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Sells $9,246,848.64 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 1,242,856 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $9,246,848.64. Following the completion of the transaction, the director now owns 4,071,574 shares in the company, valued at $30,292,510.56. This represents a 23.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were sold at an average price of $7.44, for a total value of $25,702,038.00.

Priority Technology Trading Up 0.9 %

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

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. The company had revenue of $227.05 million during 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) earnings per share. As a group, equities research analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of Priority Technology

A number of institutional investors and hedge funds have recently modified their holdings of PRTH. Renaissance Technologies LLC purchased a new stake in Priority Technology in the second quarter worth $202,000. Rebalance LLC purchased a new stake in Priority Technology in the third quarter worth $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology in the third quarter worth $112,000. Charles Schwab Investment Management Inc. increased its position in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its position in Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after buying an additional 9,675 shares during the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRTH. B. Riley raised their target price on 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 Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upgraded Priority Technology from a “market perform” rating to an “outperform” rating and raised their target price for the company from $10.00 to $14.00 in a report 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.