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

Key Points

• Priority Technology Holdings, Inc. has received a consensus rating of "Buy" from analysts, with four recommending a buy and one a strong buy, along with an average 12-month target price of $13.00.
• Recent trading saw Priority Technology's stock price at $7.48, down $0.18, with a market cap of $597.40 million and a 52-week range from $4.31 to $12.47.
• Insider trading activity includes General Counsel Bradley J. Miller selling 100,000 shares for $855,000, which decreased his ownership by 29.10%.

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) have received an average rating of "Buy" from the five brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.00.

A number of analysts recently weighed in on PRTH shares. Wall Street Zen upgraded shares of Priority Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods dropped their target price on shares of Priority Technology from $12.00 to $10.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Cowen reiterated a "buy" rating on shares of Priority Technology in a report on Friday, August 8th.

Priority Technology Stock Down 1.7%

NASDAQ:PRTH traded down $0.13 during mid-day trading on Monday, reaching $7.62. 450,957 shares of the company were exchanged, compared to its average volume of 505,632. Priority Technology has a 12 month low of $4.62 and a 12 month high of $12.47. The company has a fifty day moving average of $7.64 and a 200 day moving average of $8.04. The stock has a market cap of $608.99 million, a PE ratio of 29.31 and a beta of 1.51.

Priority Technology (NASDAQ:PRTH - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.01. Priority Technology had a net margin of 4.03% and a negative return on equity of 47.35%. The company had revenue of $239.81 million for the quarter, compared to the consensus estimate of $239.63 million. On average, equities research analysts anticipate that Priority Technology will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Priority Technology news, Director Marietta Davis sold 9,433 shares of Priority Technology stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $7.22, for a total transaction of $68,106.26. Following the completion of the transaction, the director directly owned 75,136 shares of the company's stock, valued at $542,481.92. The trade was a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Bradley J. Miller sold 100,000 shares of Priority Technology stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $8.55, for a total value of $855,000.00. Following the sale, the general counsel directly owned 243,620 shares of the company's stock, valued at $2,082,951. This represents a 29.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 66.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTH. Raymond James Financial Inc. acquired a new position in Priority Technology during the second quarter worth about $29,000. AlphaQuest LLC bought a new position in shares of Priority Technology during the 1st quarter worth approximately $37,000. Strs Ohio bought a new position in shares of Priority Technology during the 1st quarter worth approximately $46,000. CWM LLC boosted its holdings in shares of Priority Technology by 13,386.7% during the 1st quarter. CWM LLC now owns 8,092 shares of the company's stock worth $55,000 after buying an additional 8,032 shares in the last quarter. Finally, National Bank of Canada FI bought a new position in shares of Priority Technology during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds 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.