Priority Technology (NASDAQ:PRTH) CAO Sells $80,000.00 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $8.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer owned 46,074 shares in the company, valued at approximately $368,592. The trade was a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Priority Technology Trading Down 1.8%

PRTH stock opened at $5.85 on Thursday. Priority Technology Holdings, Inc. has a 1-year low of $4.44 and a 1-year high of $12.47. The stock has a 50-day moving average price of $5.70 and a 200-day moving average price of $6.64. The firm has a market cap of $478.53 million, a PE ratio of 11.03 and a beta of 1.37.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Priority Technology had a negative return on equity of 60.29% and a net margin of 5.78%.The business had revenue of $241.44 million for the quarter, compared to the consensus estimate of $251.74 million. On average, analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Priority Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in Priority Technology in the first quarter valued at about $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Priority Technology by 25.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after purchasing an additional 2,648 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Priority Technology by 1,134.1% during the first quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock worth $107,000 after purchasing an additional 14,482 shares during the last quarter. Strs Ohio acquired a new stake in Priority Technology in the first quarter valued at about $46,000. Finally, Rhumbline Advisers boosted its stake in shares of Priority Technology by 10.2% during the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after purchasing an additional 2,425 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on PRTH. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded Priority Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods lowered Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their target price for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.50.

About Priority Technology

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.