Priority Technology (NASDAQ:PRTH – Free Report) had its price target boosted by Keefe, Bruyette & Woods from $4.50 to $5.00 in a report issued on Friday, MarketBeat reports. They currently have a market perform rating on the stock.
Priority Technology Price Performance
NASDAQ:PRTH traded up $0.09 during trading hours on Friday, reaching $5.15. 24,047 shares of the company were exchanged, compared to its average volume of 61,093. The business has a 50 day moving average of $5.00 and a 200 day moving average of $3.95. Priority Technology has a 1-year low of $2.62 and a 1-year high of $6.86. The company has a market capitalization of $412.36 million, a P/E ratio of -8.88 and a beta of 0.97.
Priority Technology (NASDAQ:PRTH – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $205.72 million for the quarter, compared to analyst estimates of $209.08 million. Priority Technology had a negative return on equity of 3.11% and a net margin of 0.57%. During the same period in the prior year, the firm posted ($0.15) EPS.
Insider Buying and Selling at Priority Technology
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new stake in shares of Priority Technology in the 1st quarter valued at approximately $37,000. Virtu Financial LLC bought a new position in Priority Technology in the 1st quarter valued at approximately $50,000. Williams & Novak LLC bought a new position in Priority Technology in the 2nd quarter valued at approximately $77,000. State Board of Administration of Florida Retirement System acquired a new stake in Priority Technology in the first quarter valued at approximately $91,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Priority Technology by 22.5% during the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock worth $152,000 after buying an additional 7,812 shares during the last quarter. Institutional investors own 11.52% of the company’s stock.
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.
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