Priority Technology Holdings, Inc. (NASDAQ:PRTH) General Counsel Bradley J. Miller Sells 100,000 Shares

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) General Counsel Bradley J. Miller sold 100,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $8.55, for a total transaction of $855,000.00. Following the transaction, the general counsel now directly owns 243,620 shares of the company's stock, valued at $2,082,951. The trade was a 29.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Priority Technology Price Performance

PRTH stock traded down $0.46 during midday trading on Friday, reaching $7.81. The company had a trading volume of 504,045 shares, compared to its average volume of 329,967. The stock has a 50 day moving average price of $7.44 and a 200-day moving average price of $8.79. The company has a market capitalization of $622.47 million, a price-to-earnings ratio of -18.55 and a beta of 1.51. Priority Technology Holdings, Inc. has a 1-year low of $4.00 and a 1-year high of $12.47.

Priority Technology (NASDAQ:PRTH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.22 EPS for the quarter, beating 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, research analysts anticipate that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

PRTH has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of 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 raised shares of Priority Technology to a "strong-buy" rating in a research note on Tuesday, March 18th.

Institutional Trading of Priority Technology

Several hedge funds and other institutional investors have recently modified their holdings of PRTH. Corebridge Financial Inc. raised its position in shares of Priority Technology by 19.0% in the first quarter. Corebridge Financial Inc. now owns 10,876 shares of the company's stock worth $74,000 after buying an additional 1,733 shares in the last quarter. Rhumbline Advisers raised its position in shares of Priority Technology by 9.0% during the 4th quarter. Rhumbline Advisers now owns 23,706 shares of the company's stock valued at $279,000 after buying an additional 1,964 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Priority Technology by 25.5% in the first 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. Wells Fargo & Company MN raised its position in Priority Technology by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 8,593 shares of the company's stock valued at $101,000 after purchasing an additional 3,006 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Priority Technology by 11.8% in the 4th quarter. Barclays PLC now owns 29,127 shares of the company's stock worth $342,000 after purchasing an additional 3,063 shares in the last quarter. Institutional investors own 11.52% of the company's stock.

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.

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