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 firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $25,702,038.00. Following the completion of the sale, the director now directly owns 5,314,430 shares of the company’s stock, valued at $39,539,359.20. This trade represents a 39.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Down 4.6 %

PRTH stock opened at $9.03 on Friday. The firm has a market cap of $697.12 million, a PE ratio of -21.50 and a beta of 1.17. The business has a 50 day moving average of $9.76 and a 200-day moving average of $7.21. 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 released its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. The company had revenue of $227.05 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.16) EPS. On average, research 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 equities research analysts recently weighed in on PRTH shares. B. Riley upped 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 price target on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $10.00 to $14.00 in a report on Thursday, January 16th.

Institutional Investors Weigh In On Priority Technology

Large investors have recently modified their holdings of the stock. Rebalance LLC purchased a new stake in Priority Technology in the third quarter worth $4,822,000. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 21,598 shares in the last quarter. Corsair Capital Management L.P. boosted its holdings in shares of Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after acquiring an additional 10,000 shares during the period. Pekin Hardy Strauss Inc. grew its position in shares of Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after purchasing an additional 9,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Priority Technology by 15.8% during the 3rd 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.

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.