Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Average Rating of “Hold” by Brokerages

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.50.

A number of brokerages have commented on PRTH. Keefe, Bruyette & Woods cut shares of Priority Technology from a “moderate buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Zacks Research upgraded Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th.

Hedge Funds Weigh In On Priority Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Steamboat Capital Partners LLC increased its holdings in shares of Priority Technology by 13.5% during the fourth quarter. Steamboat Capital Partners LLC now owns 1,576,734 shares of the company’s stock worth $8,593,000 after purchasing an additional 187,893 shares during the period. Vanguard Group Inc. raised its holdings in Priority Technology by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,487,948 shares of the company’s stock valued at $10,222,000 after acquiring an additional 181,795 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Priority Technology by 1,912.7% during the 4th quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock worth $3,876,000 after purchasing an additional 675,803 shares in the last quarter. Geode Capital Management LLC raised its stake in Priority Technology by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 660,518 shares of the company’s stock valued at $3,601,000 after purchasing an additional 53,317 shares in the last quarter. Finally, Norwood Investment Partners LP acquired a new position in Priority Technology in the fourth quarter valued at about $3,433,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Trading Up 0.7%

Priority Technology stock opened at $5.77 on Friday. The company has a fifty day simple moving average of $5.66 and a 200 day simple moving average of $6.36. Priority Technology has a 1-year low of $4.44 and a 1-year high of $8.99. The company has a market cap of $472.40 million, a P/E ratio of 10.89 and a beta of 1.39.

Priority Technology Company Profile

Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.

The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.