Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Sells 105,833 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 105,833 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $787,397.52. Following the sale, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at approximately $252,360,975.84. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 17th, Thomas Charles Priore sold 294,167 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48.

Priority Technology Stock Performance

NASDAQ:PRTH opened at $9.11 on Friday. The stock has a market cap of $703.29 million, a price-to-earnings ratio of -21.69 and a beta of 1.17. Priority Technology Holdings, Inc. has a one year low of $2.82 and a one year high of $12.44. The business’s 50-day simple moving average is $9.77 and its 200 day simple moving average is $7.22.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.12. The company had revenue of $227.05 million during the quarter, compared to analysts’ expectations of $221.15 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. During the same period in the prior year, the business posted ($0.16) EPS. On average, equities research analysts predict that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Priority Technology during the fourth quarter worth about $100,000. Virtu Financial LLC bought a new position in Priority Technology during the 3rd quarter worth approximately $91,000. BNP Paribas Financial Markets grew its position in shares of Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Priority Technology in the 3rd quarter valued at approximately $112,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Priority Technology during the 4th quarter valued at approximately $237,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRTH has been the topic of several analyst reports. B. Riley raised 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. Keefe, Bruyette & Woods raised shares of Priority Technology from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $10.00 to $14.00 in a research report on Thursday, January 16th. Finally, Lake Street Capital boosted their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report 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.