Brokerages Expect Priority Technology Holdings (NASDAQ:PRTH) to Post ($0.05) EPS

Shares of Priority Technology Holdings (NASDAQ:PRTH) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price target of $8.00 for the company and are anticipating that the company will post ($0.05) EPS for the current quarter, according to Zacks. Zacks has also assigned Priority Technology an industry rank of 103 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research cut shares of Priority Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TimesSquare Capital Management LLC increased its stake in Priority Technology by 0.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,266,210 shares of the company’s stock valued at $10,923,000 after buying an additional 17,700 shares during the period. Southside Capital LLC increased its stake in Priority Technology by 39.2% in the 4th quarter. Southside Capital LLC now owns 300,000 shares of the company’s stock valued at $655,000 after buying an additional 84,531 shares during the period. Millennium Management LLC acquired a new position in Priority Technology in the 3rd quarter valued at $406,000. State Street Corp grew its stake in shares of Priority Technology by 17.3% during the 4th quarter. State Street Corp now owns 72,967 shares of the company’s stock worth $179,000 after purchasing an additional 10,766 shares during the period. Finally, Cowen AND Company LLC acquired a new position in shares of Priority Technology during the 4th quarter worth $177,000. 7.38% of the stock is currently owned by institutional investors.

Shares of PRTH opened at $2.16 on Wednesday. The firm has a fifty day moving average price of $2.81. Priority Technology has a 1 year low of $1.94 and a 1 year high of $8.69.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The firm had revenue of $109.95 million during the quarter, compared to analyst estimates of $109.72 million. Equities research analysts anticipate that Priority Technology will post -0.43 earnings per share for the current fiscal year.

About Priority Technology

Priority Technology Holdings, Inc provides merchant acquiring and commercial payment solutions in the United States. It operates through two segments, Consumer Payments; and Commercial Payments and Managed Services. The company offers MX product suite, including MX ISO/Agent and VIMAS reseller technology systems, and MX Merchant products, which provide resellers and merchant clients a customizable set of business applications that enable to manage critical business work functions and revenue performance.

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