Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus recommendation of Hold on PRTH from six firms (1 sell, 2 hold, 3 buy) and an average 12‑month price target of $8.75, with recent target trims by TD Cowen and TD Securities to $9 and mixed ratings changes from Zacks and Wall Street Zen.
• PRTH shares traded at $5.15 (market cap ~$423.8M) and the company reported $0.27 EPS vs. $0.29 expected last quarter; analysts now forecast -$0.09 EPS for the current fiscal year and the stock shows a trailing P/E of 7.46.
• Institutional interest is modest at about 11.52% ownership, with several funds (e.g., Knights of Columbus Asset Advisors, Invenomic, Segall Bryant & Hamill, Quantbot) establishing or increasing positions recently.

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) have been given a consensus recommendation of "Hold" by the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.75.

Several brokerages recently issued reports on PRTH. TD Cowen lowered their target price on shares of Priority Technology from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, March 11th. TD Securities decreased their price target on shares of Priority Technology from $10.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, March 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Priority Technology in a research note on Friday, March 27th. Zacks Research lowered shares of Priority Technology from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 11th. Finally, Wall Street Zen raised Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th.

Hedge Funds Weigh In On Priority Technology

Several large investors have recently made changes to their positions in PRTH. Knights of Columbus Asset Advisors LLC purchased a new position in Priority Technology in the 3rd quarter valued at about $1,840,000. Invenomic Capital Management LP purchased a new stake in Priority Technology during the 3rd quarter worth approximately $2,308,000. Segall Bryant & Hamill LLC acquired a new position in shares of Priority Technology during the third quarter valued at approximately $929,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Priority Technology by 19.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,954 shares of the company's stock valued at $181,000 after acquiring an additional 5,307 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Priority Technology by 253.8% in the third quarter. Quantbot Technologies LP now owns 24,869 shares of the company's stock valued at $171,000 after acquiring an additional 17,839 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Trading Up 3.2%

Shares of PRTH opened at $5.15 on Friday. The company has a market cap of $423.79 million, a P/E ratio of 7.46 and a beta of 1.51. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89. The company's fifty day simple moving average is $5.18 and its 200-day simple moving average is $5.75.

Priority Technology (NASDAQ:PRTH - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.02). The company had revenue of $247.13 million for the quarter, compared to analysts' expectations of $247.92 million. Priority Technology had a negative return on equity of 66.50% and a net margin of 5.84%. Analysts predict that Priority Technology will post -0.09 earnings per share for the current fiscal year.

About Priority Technology

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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