Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore 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 on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $25,702,038.00. Following the completion of the transaction, the director now directly owns 5,314,430 shares of the company’s stock, valued at approximately $39,539,359.20. This represents a 39.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Price Performance

Shares of Priority Technology stock opened at $9.47 on Thursday. The firm has a fifty day moving average price of $9.73 and a 200 day moving average price of $7.19. Priority Technology Holdings, Inc. has a 1 year low of $2.82 and a 1 year high of $12.44. The stock has a market cap of $731.07 million, a PE ratio of -22.55 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last issued its 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 firm had revenue of $227.05 million during the quarter, compared to analysts’ expectations of $221.15 million. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, equities analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Institutional Trading of Priority Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTH. Rebalance LLC acquired a new position in Priority Technology during the third quarter worth about $4,822,000. Geode Capital Management LLC boosted its holdings in Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after purchasing an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. boosted its holdings in Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after purchasing an additional 10,000 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its holdings in Priority Technology by 17.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Priority Technology by 15.8% in the 3rd 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 last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. B. Riley raised their price target on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Lake Street Capital raised their price target 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 stock from $10.00 to $14.00 in a 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.