Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Sells $787,397.52 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 105,833 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $787,397.52. Following the completion of the sale, the chief executive officer now directly owns 33,919,486 shares in the company, valued at $252,360,975.84. This trade represents a 0.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 Up 0.9 %

PRTH stock opened at $9.11 on Friday. The stock has a market capitalization of $703.29 million, a price-to-earnings ratio of -21.69 and a beta of 1.17. The stock’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $7.22. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44.

Priority Technology (NASDAQ:PRTH) last posted its quarterly 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 quarter in the previous year, the business earned ($0.16) EPS. As a group, analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRTH. Lake Street Capital raised their price target on 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 boosted their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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 research note on Thursday, January 16th.

Hedge Funds Weigh In On Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares during the period. Rebalance LLC acquired a new position in Priority Technology in the third quarter valued at $4,822,000. Jane Street Group LLC grew its position in Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after acquiring an additional 1,293 shares during the period. Geode Capital Management LLC increased its stake in Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after acquiring an additional 21,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after purchasing an additional 7,719 shares during the period. Institutional investors and hedge funds own 11.52% of the company’s stock.

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.