John Vito Priore Sells 3,454,575 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 3,454,575 shares of the company’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 completion of the transaction, the director now owns 5,314,430 shares in the company, valued at approximately $39,539,359.20. This represents a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 transaction of $9,246,848.64.

Priority Technology Stock Up 5.7 %

Priority Technology stock opened at $9.47 on Thursday. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The company’s 50 day moving average is $9.73 and its two-hundred day moving average is $7.19. The firm has a market cap of $731.07 million, a PE ratio of -22.55 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 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 period in the prior year, the firm posted ($0.16) EPS. On average, equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley increased their target price 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. 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 increased their target price for the stock from $10.00 to $14.00 in a report on Thursday, January 16th.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently modified their holdings of PRTH. Renaissance Technologies LLC purchased a new stake in shares of Priority Technology in the 2nd quarter valued at approximately $202,000. Rebalance LLC purchased a new position in shares of Priority Technology in the 3rd quarter valued at $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Priority Technology in the 3rd quarter valued at $112,000. Charles Schwab Investment Management Inc. grew its position in shares of Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after buying an additional 7,719 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. grew its position in shares of Priority Technology by 17.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $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.

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.