Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $8.75.

PRTH has been the topic of several recent research reports. TD Securities dropped their price objective on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Friday, March 27th. Zacks Research raised shares of Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Priority Technology from a “hold” rating to a “buy” rating in a research note on Sunday, May 17th. Finally, TD Cowen lowered their price target on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th.

Priority Technology Stock Performance

Shares of PRTH opened at $5.82 on Friday. The stock has a market capitalization of $479.34 million, a P/E ratio of 8.20 and a beta of 1.55. The company’s fifty day moving average is $5.43 and its two-hundred day moving average is $5.51. Priority Technology has a 1 year low of $4.44 and a 1 year high of $8.89.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.06. The company had revenue of $249.56 million for the quarter, compared to analysts’ expectations of $242.87 million. Priority Technology had a net margin of 5.85% and a negative return on equity of 83.50%. Sell-side analysts predict that Priority Technology will post 1.24 EPS for the current year.

Hedge Funds Weigh In On Priority Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invenomic Capital Management LP acquired a new position in shares of Priority Technology during the 3rd quarter worth $2,308,000. Segall Bryant & Hamill LLC acquired a new position in shares of Priority Technology during the 3rd quarter worth $929,000. Quantbot Technologies LP grew its stake in shares of Priority Technology by 253.8% during the 3rd quarter. Quantbot Technologies LP now owns 24,869 shares of the company’s stock worth $171,000 after purchasing an additional 17,839 shares during the period. Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Priority Technology during the 4th quarter worth $384,000. Finally, Potomac Capital Management Inc. acquired a new position in shares of Priority Technology during the 4th quarter worth $539,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Company Profile

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.