Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.59.

Several analysts have recently commented on PRTH shares. Lake Street Capital cut shares of Priority Technology from a “buy” rating to a “hold” rating and decreased their price target for the company from $13.00 to $8.05 in a research note on Monday, September 21st. Keefe, Bruyette & Woods upped their price objective on Priority Technology from $6.50 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, September 22nd. Alliance Global Partners downgraded Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Thursday, August 6th. B. Riley Financial lowered Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price objective on the stock. in a research report on Friday, October 2nd. Finally, Zacks Research cut Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th.

Hedge Funds Weigh In On Priority Technology

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Priority Technology in the second quarter valued at approximately $67,000. The Manufacturers Life Insurance Company bought a new position in shares of Priority Technology during the 2nd quarter worth approximately $69,000. Aaron Wealth Advisors LLC acquired a new position in shares of Priority Technology during the 1st quarter worth approximately $50,000. One68 Global Capital LLC acquired a new position in shares of Priority Technology during the 2nd quarter worth approximately $73,000. Finally, Alpine Global Management LLC bought a new stake in Priority Technology in the 4th quarter valued at $88,000. Institutional investors own 11.52% of the company’s stock.

Priority Technology Stock Performance

Priority Technology stock remained flat at $7.82 during mid-day trading on Friday. 262,355 shares of the company’s stock traded hands, compared to its average volume of 2,395,344. The firm has a market capitalization of $644.68 million, a PE ratio of 11.33 and a beta of 1.58. Priority Technology has a 52-week low of $4.44 and a 52-week high of $7.87. The business has a fifty day moving average price of $6.46 and a 200 day moving average price of $6.19.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $262.26 million during the quarter, compared to analysts’ expectations of $257.81 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. Analysts expect that Priority Technology will post 1.23 EPS for the current fiscal year.

About Priority Technology

Priority Technology Holdings, Inc is a payments technology company that provides payment processing and merchant services to businesses, financial institutions and software providers. Its platform supports card, digital and alternative payment acceptance, transaction processing, merchant onboarding, reporting and related payment operations.

The company serves small and midsize businesses, enterprise merchants and software platforms through integrated and embedded payment solutions. Its offerings are designed to help organizations incorporate payments into business-management software and workflows, while also providing tools such as billing, invoicing, data reporting, risk management and access to business financing solutions.

Priority Technology was founded in 2005 and is headquartered in Alpharetta, Georgia.