Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director Sells 1,242,856 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) Director John Vito Priore sold 1,242,856 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $9,246,848.64. Following the sale, the director now directly owns 4,071,574 shares of the company’s stock, valued at $30,292,510.56. This represents a 23.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

John Vito Priore also recently made the following trade(s):

• On Friday, January 17th, John Vito Priore sold 3,454,575 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $25,702,038.00.

Priority Technology Stock Up 5.7 %

NASDAQ:PRTH opened at $9.47 on Thursday. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44. The stock’s 50-day simple moving average is $9.73 and its 200 day simple moving average is $7.19.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.12. The firm had revenue of $227.05 million for the quarter, compared to analyst estimates of $221.15 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Priority Technology

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Priority Technology in the 3rd quarter valued at about $91,000. SG Americas Securities LLC bought a new position in Priority Technology during the fourth quarter worth about $100,000. BNP Paribas Financial Markets increased its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology in the third quarter valued at approximately $112,000. Finally, Jane Street Group LLC boosted its stake in shares of Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after acquiring an additional 1,293 shares during the period. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analyst Weigh In

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

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.