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 Priority Technology stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $9,246,848.64. Following the completion of the sale, the director now owns 4,071,574 shares of the company’s stock, valued at $30,292,510.56. This trade represents a 23.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Price Performance

Shares of Priority Technology stock traded up $0.51 on Wednesday, reaching $9.47. 803,959 shares of the company were exchanged, compared to its average volume of 934,146. The stock’s 50 day moving average price is $9.73 and its 200-day moving average price is $7.19. The company has a market cap of $731.07 million, a P/E ratio of -22.55 and a beta of 1.17. Priority Technology Holdings, Inc. has a 1-year low of $2.82 and a 1-year high of $12.44.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The company had revenue of $227.05 million for the quarter, compared to the consensus estimate of $221.15 million. During the same period in the prior year, the firm posted ($0.16) EPS. On average, research analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Priority Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rebalance LLC acquired a new position in Priority Technology during the third quarter worth approximately $4,822,000. Jane Street Group LLC boosted its stake in Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after purchasing an additional 1,293 shares during the period. Geode Capital Management LLC grew its position in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after purchasing an additional 7,719 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Priority Technology in the second quarter valued at about $202,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. B. Riley boosted their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital increased their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and raised their price target for the company from $10.00 to $14.00 in a research report on Thursday, January 16th.

About Priority Technology

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.