Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Marietta Davis Sells 9,433 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Marietta Davis sold 9,433 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $7.22, for a total value of $68,106.26. Following the transaction, the director now directly owns 75,136 shares of the company’s stock, valued at approximately $542,481.92. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Priority Technology Stock Performance

Priority Technology stock opened at $7.91 on Wednesday. The stock’s 50 day moving average price is $7.15 and its two-hundred day moving average price is $8.78. The stock has a market capitalization of $630.85 million, a price-to-earnings ratio of -18.83 and a beta of 1.50. Priority Technology Holdings, Inc. has a 52-week low of $3.92 and a 52-week high of $12.47.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The business had revenue of $224.63 million during the quarter, compared to analysts’ expectations of $228.81 million. On average, equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Institutional Trading of Priority Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRTH. JPMorgan Chase & Co. boosted its holdings in Priority Technology by 273.0% in the third quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock worth $232,000 after acquiring an additional 24,811 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Priority Technology in the 4th quarter valued at $100,000. Baader Bank Aktiengesellschaft acquired a new stake in Priority Technology in the 4th quarter valued at $237,000. Rhumbline Advisers increased its stake in Priority Technology by 9.0% during the 4th quarter. Rhumbline Advisers now owns 23,706 shares of the company’s stock valued at $279,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Priority Technology by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 39,693 shares of the company’s stock worth $466,000 after buying an additional 4,366 shares during the last quarter. 11.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PRTH. Keefe, Bruyette & Woods lowered their price objective on Priority Technology from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. TD Cowen raised shares of Priority Technology to a “strong-buy” rating in a research report on Tuesday, March 18th.

Priority Technology Company Profile

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.