Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Sells 294,167 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 294,167 shares of Priority Technology stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $2,188,602.48. Following the completion of the transaction, the chief executive officer now directly owns 34,025,319 shares in the company, valued at $253,148,373.36. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were sold at an average price of $7.44, for a total transaction of $787,397.52.

Priority Technology Stock Performance

Shares of PRTH stock traded up $0.51 on Wednesday, hitting $9.47. The stock had a trading volume of 803,959 shares, compared to its average volume of 934,146. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The firm has a market capitalization of $731.07 million, a price-to-earnings ratio of -22.55 and a beta of 1.17. The stock’s 50 day moving average is $9.73 and its 200-day moving average is $7.19.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The company had revenue of $227.05 million during the quarter, compared to the consensus estimate of $221.15 million. During the same period last year, the firm earned ($0.16) earnings per share. Equities analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRTH. Keefe, Bruyette & Woods raised shares of 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 research note on Thursday, January 16th. B. Riley boosted their price objective on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Lake Street Capital increased their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Priority Technology

A number of institutional investors have recently made changes to their positions in PRTH. Renaissance Technologies LLC acquired a new stake in shares of Priority Technology during the second quarter worth approximately $202,000. Rebalance LLC acquired a new position in Priority Technology during the 3rd quarter worth $4,822,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Priority Technology in the 3rd quarter worth about $112,000. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 7,719 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its position in shares of Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after purchasing an additional 9,675 shares during the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

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.