Priority Technology Holdings, Inc. (NASDAQ:PRTH) CAO Sells $61,300.00 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Priority Technology Stock Performance

Shares of PRTH traded up $0.71 during trading hours on Tuesday, reaching $6.73. 161,087 shares of the company traded hands, compared to its average volume of 47,488. The stock’s fifty day moving average is $5.43 and its 200 day moving average is $4.34. Priority Technology Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $6.86. The stock has a market cap of $517.07 million, a P/E ratio of -11.60 and a beta of 0.97.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $219.87 million during the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently made changes to their positions in the business. Williams & Novak LLC bought a new stake in Priority Technology in the second quarter valued at about $77,000. Virtu Financial LLC bought a new stake in shares of Priority Technology in the 1st quarter valued at approximately $50,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Priority Technology in the 1st quarter worth approximately $91,000. Renaissance Technologies LLC bought a new position in shares of Priority Technology during the 2nd quarter worth approximately $202,000. Finally, Panagora Asset Management Inc. boosted its stake in Priority Technology by 22.5% in the 4th quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock valued at $152,000 after buying an additional 7,812 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price objective on Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research report on Friday, August 9th.

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.