Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Consensus Rating of “Hold” by Brokerages

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.75.

A number of analysts have commented on the company. Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Zacks Research lowered Priority Technology from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. TD Cowen reduced their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. TD Securities decreased their target price on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a research report on Friday, March 27th.

Institutional Trading of Priority Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in shares of Priority Technology in the 1st quarter valued at about $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Priority Technology by 25.5% in the 1st 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 in the last quarter. NewEdge Advisors LLC boosted its position in Priority Technology by 1,134.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock worth $107,000 after purchasing an additional 14,482 shares in the last quarter. Strs Ohio acquired a new stake in shares of Priority Technology during the 1st quarter worth approximately $46,000. Finally, Rhumbline Advisers grew its stake in shares of 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 during the period. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Trading Up 4.0%

NASDAQ:PRTH opened at $5.45 on Friday. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89. The company has a market cap of $448.48 million, a PE ratio of 7.90 and a beta of 1.51. The company’s 50 day moving average is $5.16 and its two-hundred day moving average is $5.71.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Tuesday, March 10th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Priority Technology had a negative return on equity of 66.50% and a net margin of 5.84%.The company had revenue of $247.13 million during the quarter, compared to analysts’ expectations of $247.92 million. As a group, analysts expect that Priority Technology will post 1.17 EPS for the current fiscal year.

Priority Technology Company Profile

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.