Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Sells 3,454,575 Shares of 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 transaction of $25,702,038.00. Following the completion of the sale, the director now directly owns 5,314,430 shares in the company, valued at $39,539,359.20. This represents a 39.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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 %

NASDAQ PRTH opened at $9.03 on Friday. The stock’s 50 day moving average is $9.76 and its 200 day moving average is $7.21. The firm has a market capitalization of $697.12 million, a PE ratio of -21.50 and a beta of 1.17. Priority Technology Holdings, Inc. has a twelve month low of $2.82 and a twelve month high of $12.44.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $221.15 million. During the same period last year, the business earned ($0.16) EPS. On average, research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of Priority Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baader Bank Aktiengesellschaft bought a new stake in Priority Technology in the fourth quarter worth $237,000. SG Americas Securities LLC bought a new stake in Priority Technology during the 4th quarter valued at about $100,000. Ritholtz Wealth Management raised its holdings in Priority Technology by 99.1% in the fourth quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock worth $291,000 after buying an additional 12,336 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Priority Technology by 273.0% in the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after buying an additional 24,811 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Priority Technology during the third quarter valued at approximately $91,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Analysts Set New Price Targets

PRTH has been the topic of several recent research reports. B. Riley increased their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $10.00 to $14.00 in a research report on Thursday, January 16th. Finally, Lake Street Capital lifted their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

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.