Marietta Davis Sells 9,433 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) Director Marietta Davis sold 9,433 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $7.22, for a total transaction of $68,106.26. Following the sale, the director now directly owns 75,136 shares in the company, valued at $542,481.92. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Priority Technology Stock Up 3.6%

PRTH traded up $0.30 during trading on Friday, reaching $8.55. 637,605 shares of the stock traded hands, compared to its average volume of 318,313. The stock has a market capitalization of $681.89 million, a PE ratio of -20.36 and a beta of 1.50. The stock's 50-day moving average is $7.18 and its 200 day moving average is $8.78. Priority Technology Holdings, Inc. has a 12 month low of $3.92 and a 12 month high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.12. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. The company had revenue of $224.63 million for the quarter, compared to analyst estimates of $228.81 million. As a group, equities research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. TD Cowen upgraded Priority Technology to a "strong-buy" rating in a report on Tuesday, March 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in Priority Technology by 10.2% in the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company's stock valued at $178,000 after purchasing an additional 2,425 shares during the period. Strs Ohio purchased a new stake in shares of Priority Technology during the 1st quarter valued at $46,000. Acadian Asset Management LLC raised its position in shares of Priority Technology by 825.3% during the 1st quarter. Acadian Asset Management LLC now owns 357,473 shares of the company's stock valued at $2,431,000 after buying an additional 318,839 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Priority Technology by 1,134.1% during the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company's stock valued at $107,000 after buying an additional 14,482 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $89,000 after buying an additional 2,648 shares in the last quarter. 11.52% of the stock is owned by institutional investors.

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.