Thomas Charles Priore Sells 105,833 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 105,833 shares of Priority Technology 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 $787,397.52. Following the transaction, the chief executive officer now directly owns 33,919,486 shares in the company, valued at approximately $252,360,975.84. The trade was a 0.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Thomas Charles Priore also recently made the following trade(s):

• On Friday, January 17th, Thomas Charles Priore sold 294,167 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total transaction of $2,188,602.48.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH opened at $9.03 on Friday. The company’s 50-day moving average is $9.76 and its 200 day moving average is $7.21. The company 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 fifty-two week low of $2.82 and a fifty-two week high of $12.44.

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

Analyst Ratings Changes

Several brokerages have recently commented on PRTH. Lake Street Capital increased their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $14.00 in a research note on Thursday, January 16th. Finally, B. Riley upped 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.

Hedge Funds Weigh In On Priority Technology

Several institutional investors have recently bought and sold shares of the company. Rebalance LLC bought a new stake in shares of Priority Technology in the third quarter valued at $4,822,000. Barclays PLC increased its holdings in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after acquiring an additional 18,741 shares during the last quarter. Jane Street Group LLC raised its stake in Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after acquiring an additional 1,293 shares during the period. Geode Capital Management LLC boosted its position in Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 purchasing an additional 7,719 shares in the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

About Priority Technology

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.