Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Consensus Recommendation of “Hold” from Analysts

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.50.

Several equities research analysts recently weighed in on PRTH shares. Wall Street Zen downgraded shares of Priority Technology from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Alliance Global Partners cut shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Thursday, August 6th. Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods cut their price target on Priority Technology from $7.50 to $6.50 and set a “market perform” rating on the stock in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a research report on Wednesday, June 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRTH. Sequoia Financial Advisors LLC purchased a new stake in Priority Technology in the second quarter valued at $67,000. Steamboat Capital Partners LLC boosted its stake in Priority Technology by 4.6% in the second quarter. Steamboat Capital Partners LLC now owns 1,335,669 shares of the company’s stock valued at $8,909,000 after acquiring an additional 58,273 shares in the last quarter. Pale Fire Capital SE purchased a new position in shares of Priority Technology during the second quarter worth about $167,000. One68 Global Capital LLC purchased a new position in shares of Priority Technology during the second quarter worth about $73,000. Finally, Bank of America Corp DE acquired a new position in Priority Technology during the second quarter worth approximately $1,624,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

Priority Technology Trading Up 1.2%

PRTH opened at $6.01 on Tuesday. The stock’s 50-day moving average price is $6.03 and its 200 day moving average price is $5.81. Priority Technology has a 12-month low of $4.44 and a 12-month high of $7.91. The firm has a market cap of $495.46 million, a price-to-earnings ratio of 8.71 and a beta of 1.55.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $262.26 million during the quarter, compared to the consensus estimate of $257.81 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. On average, research analysts forecast that Priority Technology will post 1.23 earnings per share for the current year.

Priority Technology Company Profile

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides commerce and payment-processing solutions to businesses, financial institutions and software providers. Its platform supports card payments, electronic payments and other transaction types, helping clients accept, manage and reconcile payments across in-person, online and business-to-business channels.

The company offers merchant acquiring and payment enablement services, including point-of-sale and e-commerce payment acceptance, payment gateway capabilities, automated clearing house (ACH) transactions, electronic invoicing and accounts-payable solutions.