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 the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the completion of the transaction, the chief executive officer now owns 34,025,319 shares of the company’s stock, valued at approximately $253,148,373.36. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 stock was sold at an average price of $7.44, for a total transaction of $787,397.52.

Priority Technology Stock Down 4.6 %

Shares of NASDAQ PRTH opened at $9.03 on Friday. The firm has a market cap of $697.12 million, a PE ratio of -21.50 and a beta of 1.17. Priority Technology Holdings, Inc. has a 12-month low of $2.82 and a 12-month high of $12.44. The company’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $7.21.

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. The business had revenue of $227.05 million for the quarter, compared to analyst estimates of $221.15 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. During the same period in the prior year, the firm earned ($0.16) earnings per share. On average, equities analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Priority Technology during the fourth quarter worth $100,000. Virtu Financial LLC bought a new position in shares of Priority Technology in the third quarter valued at $91,000. BNP Paribas Financial Markets lifted its stake in shares of Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after buying an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology in the third quarter valued at $112,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Priority Technology in the fourth quarter valued at $237,000. 11.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Lake Street Capital increased their price objective 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. B. Riley increased their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $10.00 to $14.00 in a research 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.