Priority Technology Holdings, Inc. (NASDAQ:PRTH) General Counsel Sells $855,000.00 in Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) General Counsel Bradley J. Miller sold 100,000 shares of the firm's stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Priority Technology Stock Up 1.9%

NASDAQ:PRTH traded up $0.15 during trading hours on Monday, reaching $7.95. The company had a trading volume of 315,228 shares, compared to its average volume of 333,274. The firm has a market cap of $634.04 million, a price-to-earnings ratio of -18.93 and a beta of 1.51. The business's 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $8.75. Priority Technology Holdings, Inc. has a twelve month low of $4.09 and a twelve month high of $12.47.

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

Analyst Upgrades and Downgrades

PRTH has been the subject of a number of analyst reports. TD Cowen raised shares of Priority Technology to a "strong-buy" rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their target price on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in Priority Technology by 10.2% in the first quarter. Rhumbline Advisers now owns 26,131 shares of the company's stock worth $178,000 after purchasing an additional 2,425 shares during the period. Strs Ohio bought a new stake in shares of Priority Technology during the first quarter worth about $46,000. Acadian Asset Management LLC increased its position in shares of Priority Technology by 825.3% during the first quarter. Acadian Asset Management LLC now owns 357,473 shares of the company's stock worth $2,431,000 after acquiring an additional 318,839 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Priority Technology by 1,134.1% during the first quarter. NewEdge Advisors LLC now owns 15,759 shares of the company's stock worth $107,000 after acquiring an additional 14,482 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Priority Technology by 25.5% during 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. 11.52% of the stock is currently owned by institutional investors and hedge funds.

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.