Priority Technology (NASDAQ:PRTH) Trading Down 4.6% on Insider Selling

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price traded down 4.6% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $9.04 and last traded at $9.04. 180,158 shares were traded during mid-day trading, a decline of 80% from the average session volume of 887,866 shares. The stock had previously closed at $9.47.

Specifically, CEO Thomas Charles Priore sold 105,833 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $787,397.52. Following the completion of the transaction, the chief executive officer now owns 33,919,486 shares in the company, valued at $252,360,975.84. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Charles Priore sold 294,167 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $7.44, for a total value of $2,188,602.48. Following the completion of the sale, the chief executive officer now owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Ranjana Ram sold 6,615 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the transaction, the chief operating officer now owns 686,389 shares in the company, valued at $5,106,734.16. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

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

Priority Technology Stock Performance

The company has a market capitalization of $697.12 million, a PE ratio of -21.50 and a beta of 1.17. The firm has a fifty day simple moving average of $9.76 and a 200 day simple moving average of $7.21.

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

Institutional Investors Weigh In On Priority Technology

Several large investors have recently modified their holdings of PRTH. Virtu Financial LLC bought a new position in shares of Priority Technology during the third quarter valued at approximately $91,000. SG Americas Securities LLC purchased a new stake in Priority Technology during the fourth quarter worth $100,000. BNP Paribas Financial Markets boosted its position in Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after acquiring an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Priority Technology in the 3rd quarter valued at $112,000. Finally, Jane Street Group LLC raised its position in shares of Priority Technology by 6.1% in 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 in the last quarter. Institutional investors own 11.52% of the company’s stock.

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.