Thomas Charles Priore Sells 294,167 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 294,167 shares of Priority Technology stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48. Following the transaction, the chief executive officer now directly owns 34,025,319 shares of the company’s stock, valued at approximately $253,148,373.36. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Thomas Charles Priore also recently made the following trade(s):

• On Tuesday, January 21st, Thomas Charles Priore sold 105,833 shares of Priority Technology stock. The shares were sold at an average price of $7.44, for a total value of $787,397.52.

Priority Technology Trading Up 5.7 %

Shares of Priority Technology stock traded up $0.51 during mid-day trading on Wednesday, hitting $9.47. 803,959 shares of the stock were exchanged, compared to its average volume of 934,146. The company has a 50-day simple moving average of $9.73 and a 200 day simple moving average of $7.19. The stock has a market capitalization of $731.07 million, a price-to-earnings ratio of -22.55 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 released its earnings results on Thursday, November 7th. The company reported $0.07 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 period in the previous year, the company earned ($0.16) EPS. Equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Priority Technology

Several large investors have recently added to or reduced their stakes in PRTH. SG Americas Securities LLC acquired a new position in shares of Priority Technology during the 4th quarter valued at about $100,000. Virtu Financial LLC purchased a new stake in Priority Technology in the third quarter valued at approximately $91,000. BNP Paribas Financial Markets increased its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology during the third quarter worth approximately $112,000. Finally, Jane Street Group LLC boosted its holdings in shares of Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares during the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.