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 firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares of the company’s stock, valued at $71,028.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Priority Technology Trading Down 5.6 %

Shares of PRTH opened at $6.35 on Thursday. Priority Technology Holdings, Inc. has a 1-year low of $2.79 and a 1-year high of $7.00. The stock has a market capitalization of $508.41 million, a P/E ratio of -10.95 and a beta of 0.97. The business’s 50-day moving average price is $5.49 and its 200 day moving average price is $4.37.

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

Institutional Trading of Priority Technology

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Priority Technology by 25.7% during the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after buying an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Priority Technology during the 1st quarter valued at about $164,000. Panagora Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 7,812 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Priority Technology in the first quarter worth approximately $91,000. Finally, Virtu Financial LLC acquired a new stake in shares of Priority Technology during the first quarter worth approximately $50,000. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.