Priority Technology (NASDAQ:PRTH) CAO Sells $80,000.00 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the completion of the transaction, the chief accounting officer owned 46,074 shares in the company, valued at $368,592. This trade represents a 17.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Priority Technology Price Performance

Shares of NASDAQ PRTH opened at $5.91 on Friday. The company has a market capitalization of $483.85 million, a PE ratio of 11.15 and a beta of 1.37. Priority Technology Holdings, Inc. has a twelve month low of $4.44 and a twelve month high of $12.47. The firm has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $6.63.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Priority Technology had a net margin of 5.78% and a negative return on equity of 60.29%. The firm had revenue of $241.44 million for the quarter, compared to the consensus estimate of $251.74 million. As a group, equities analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a report on Monday, December 29th. Industrial Alliance Securities set a $11.00 target price on shares of Priority Technology in a research report on Thursday, November 6th. Zacks Research upgraded shares of Priority Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lowered shares of Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $6.00 in a report on Tuesday, November 11th. Finally, Alliance Global Partners restated a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.50.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after buying an additional 1,863 shares during the last quarter. State of Wyoming increased its holdings in Priority Technology by 4.5% during the 3rd quarter. State of Wyoming now owns 47,259 shares of the company’s stock worth $325,000 after purchasing an additional 2,051 shares in the last quarter. Rhumbline Advisers increased its holdings in Priority Technology by 10.2% during the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock worth $178,000 after purchasing an additional 2,425 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Priority Technology by 25.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Priority Technology by 14.4% in the third quarter. Alliancebernstein L.P. now owns 25,460 shares of the company’s stock valued at $175,000 after purchasing an additional 3,200 shares in the last quarter. 11.52% of the stock is owned by institutional investors.

About Priority Technology

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.