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 on 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 transaction, the director now directly owns 4,071,574 shares of the company’s stock, valued at $30,292,510.56. The trade was a 23.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $7.44, for a total value of $25,702,038.00.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $9.11 on Friday. The firm has a market capitalization of $703.29 million, a price-to-earnings ratio of -21.69 and a beta of 1.17. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The stock has a fifty day moving average of $9.77 and a 200 day moving average of $7.22.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.12. The company had revenue of $227.05 million during the quarter, compared to analyst estimates 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 quarter last year, the company earned ($0.16) earnings per share. Equities analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Priority Technology

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Priority Technology during the fourth quarter worth about $100,000. Virtu Financial LLC bought a new stake in Priority Technology during the third quarter worth about $91,000. BNP Paribas Financial Markets lifted its stake in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology during the third quarter worth about $112,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Priority Technology during the fourth quarter worth about $237,000. Institutional investors own 11.52% of the company’s stock.

Analyst Ratings Changes

PRTH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $10.00 to $14.00 in a report on Thursday, January 16th. B. Riley raised their price target on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Lake Street Capital raised their price target on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 22nd.

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.