Priority Technology Holdings, Inc. (NASDAQ:PRTH) COO Ranjana Ram Sells 18,385 Shares

Priority Technology Holdings, Inc. (NASDAQ:PRTH) COO Ranjana Ram sold 18,385 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $136,784.40. Following the completion of the transaction, the chief operating officer now owns 693,004 shares of the company’s stock, valued at approximately $5,155,949.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Ranjana Ram also recently made the following trade(s):

• On Tuesday, January 21st, Ranjana Ram sold 6,615 shares of Priority Technology stock. The shares were sold at an average price of $7.44, for a total value of $49,215.60.

Priority Technology Price Performance

Priority Technology stock traded up $0.51 during trading hours on Wednesday, hitting $9.47. 803,959 shares of the stock traded hands, compared to its average volume of 934,146. The firm’s 50 day moving average price is $9.73 and its 200-day moving average price is $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 capitalization of $731.07 million, a price-to-earnings ratio of -22.55 and a beta of 1.17.

Priority Technology (NASDAQ:PRTH) last posted 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 negative return on equity of 15.86% and a net margin of 1.96%. The firm had revenue of $227.05 million for the quarter, compared to analyst estimates of $221.15 million. During the same period last year, the company earned ($0.16) earnings per share. Research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Priority Technology

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Priority Technology in the fourth quarter worth about $100,000. Ritholtz Wealth Management grew 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 valued at $291,000 after purchasing an additional 12,336 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after buying an additional 24,811 shares during the period. Virtu Financial LLC purchased a new position in shares of Priority Technology during the 3rd quarter valued at approximately $91,000. Finally, Barclays PLC increased its holdings in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after acquiring an additional 18,741 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.