Key Points
- CAO Rajiv Kumar sold 10,000 shares on August 21 at an average price of $8.00 for a total of $80,000, reducing his stake to 46,074 shares (a 17.83% decrease).
- Priority Technology reported quarterly EPS of $0.28, missing the $0.30 consensus and posting revenue of $241.44M versus $251.74M expected, with a net margin of 5.78% and a negative ROE of 60.29%; analysts expect -0.09 EPS for the current fiscal year.
- Analysts have an average rating of "Hold" with an average target of $8.50; the stock trades near $5.91, has a market cap of $483.85M, and a 52‑week range of $4.44–$12.47.
Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $8.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer directly owned 46,074 shares in the company, valued at approximately $368,592. This represents a 17.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Priority Technology Stock Up 0.9%
Shares of NASDAQ PRTH opened at $5.91 on Friday. The stock has a market capitalization of $483.85 million, a PE ratio of 11.15 and a beta of 1.37. The firm has a fifty day moving average of $5.71 and a 200-day moving average of $6.64. Priority Technology Holdings, Inc. has a 52-week low of $4.44 and a 52-week high of $12.47.
Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). Priority Technology had a net margin of 5.78% and a negative return on equity of 60.29%. The firm had revenue of $241.44 million during the quarter, compared to analyst estimates of $251.74 million. Equities research analysts expect that Priority Technology Holdings, Inc. will post -0.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Priority Technology during the 2nd quarter worth $29,000. BNP Paribas Financial Markets boosted its position in Priority Technology by 57.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company's stock valued at $35,000 after buying an additional 1,863 shares during the last quarter. Strs Ohio acquired a new stake in Priority Technology during the 1st quarter valued at approximately $46,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Priority Technology during the second quarter worth approximately $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Priority Technology by 25.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company's stock worth $89,000 after acquiring an additional 2,648 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PRTH has been the subject of a number of research analyst reports. Alliance Global Partners reissued a "buy" rating on shares of Priority Technology in a research report on Thursday, November 6th. Zacks Research upgraded shares of Priority Technology from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 7th. Industrial Alliance Securities set a $11.00 price objective on shares of Priority Technology in a research report on Thursday, November 6th. Weiss Ratings restated a "hold (c)" rating on shares of Priority Technology in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Priority Technology from a "buy" rating to a "hold" rating in a research report on Saturday, January 3rd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.50.
Get Our Latest Stock Report on PRTH
Priority Technology Company Profile
(
Get Free Report)
Priority Technology Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization or similar business combination with one or more businesses in the technology sector. As a blank-check company, it does not conduct any operations of its own and holds the proceeds from its initial public offering in a trust account pending the identification and completion of a business combination.
The company’s management team is focused on evaluating target businesses that offer scalable technology products or services, including software, digital platforms and related infrastructure.
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