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 Priority Technology stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $7.44, for a total value of $136,784.40. Following the sale, the chief operating officer now directly owns 693,004 shares in the company, valued at $5,155,949.76. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $49,215.60.

Priority Technology Stock Performance

Shares of NASDAQ:PRTH traded up $0.51 during midday trading on Wednesday, reaching $9.47. The company’s stock had a trading volume of 803,959 shares, compared to its average volume of 934,146. The firm 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 fifty-two week low of $2.82 and a fifty-two week high of $12.44. The firm has a 50 day moving average price of $9.73 and a two-hundred day moving average price of $7.19.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $221.15 million. During the same quarter in the prior year, the company earned ($0.16) EPS. As a group, research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rebalance LLC purchased a new position in Priority Technology in the third quarter worth $4,822,000. Geode Capital Management LLC raised its holdings in shares of Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after buying an additional 21,598 shares in the last quarter. Corsair Capital Management L.P. boosted its stake in Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after acquiring an additional 9,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 7,719 shares during the last quarter. Institutional investors own 11.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.