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

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has been given an average rating of “Hold” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.59.

A number of equities analysts recently issued reports on PRTH shares. Alliance Global Partners lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 target price on the stock. in a research report on Thursday, August 6th. B. Riley Financial lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price target on the stock. in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of Priority Technology from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings upgraded shares of Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Priority Technology from $6.50 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 22nd.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in Priority Technology during the second quarter worth about $67,000. The Manufacturers Life Insurance Company acquired a new position in shares of Priority Technology in the 2nd quarter worth approximately $69,000. One68 Global Capital LLC acquired a new position in shares of Priority Technology in the 2nd quarter worth approximately $73,000. Legal & General Group Plc acquired a new position in shares of Priority Technology in the 2nd quarter worth approximately $111,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Price Performance

NASDAQ:PRTH opened at $7.91 on Wednesday. Priority Technology has a 12 month low of $4.44 and a 12 month high of $7.92. The firm has a market cap of $652.10 million, a price-to-earnings ratio of 11.46 and a beta of 1.74. The company’s 50 day moving average is $7.02 and its 200-day moving average is $6.11.

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

Priority Technology Company Profile

Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides payment processing and commerce solutions to businesses, software providers and financial institutions. Its platform supports card and electronic payment acceptance across in-person, online and mobile channels, as well as related payment and reporting functions.

The company offers integrated payments and embedded payment capabilities that can be incorporated into business-management and vertical-market software.