Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Sells 294,167 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CEO Thomas Charles Priore sold 294,167 shares of the firm’s 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 $2,188,602.48. Following the completion of the sale, the chief executive officer now directly owns 34,025,319 shares of the company’s stock, valued at $253,148,373.36. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Thomas Charles Priore also recently made the following trade(s):

• On Tuesday, January 21st, Thomas Charles Priore sold 105,833 shares of Priority Technology stock. The shares were sold at an average price of $7.44, for a total value of $787,397.52.

Priority Technology Stock Performance

Shares of PRTH stock opened at $9.11 on Friday. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The firm has a market capitalization of $703.29 million, a P/E ratio of -21.69 and a beta of 1.17. The stock has a 50 day moving average price of $9.77 and a 200 day moving average price of $7.22.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $221.15 million. During the same period last year, the company earned ($0.16) EPS. As a group, sell-side analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PRTH shares. B. Riley raised their price objective on Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods raised Priority Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $10.00 to $14.00 in a research note on Thursday, January 16th. Finally, Lake Street Capital raised their price target on Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Baader Bank Aktiengesellschaft purchased a new position in Priority Technology during the 4th quarter worth $237,000. SG Americas Securities LLC purchased a new position in Priority Technology during the 4th quarter worth $100,000. Ritholtz Wealth Management increased its holdings in Priority Technology by 99.1% during the 4th quarter. Ritholtz Wealth Management now owns 24,780 shares of the company’s stock worth $291,000 after purchasing an additional 12,336 shares during the period. JPMorgan Chase & Co. increased its holdings in Priority Technology by 273.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after purchasing an additional 24,811 shares during the period. Finally, Virtu Financial LLC purchased a new position in Priority Technology during the 3rd quarter worth $91,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

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.