Priority Technology (NASDAQ:PRTH) Shares Down 4.6% Following Insider Selling

Priority Technology Holdings, Inc. (NASDAQ:PRTH - Get Free Report) was down 4.6% during mid-day trading on Thursday following insider selling activity. The company traded as low as $9.04 and last traded at $9.04. Approximately 180,158 shares changed hands during trading, a decline of 80% from the average daily volume of 887,866 shares. The stock had previously closed at $9.47.

Specifically, CEO Thomas Charles Priore sold 105,833 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $787,397.52. Following the completion of the transaction, the chief executive officer now owns 33,919,486 shares in the company, valued at approximately $252,360,975.84. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Charles Priore sold 294,167 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $2,188,602.48. Following the completion of the sale, the chief executive officer now owns 34,025,319 shares in the company, valued at approximately $253,148,373.36. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, COO Ranjana Ram sold 6,615 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total value of $49,215.60. Following the completion of the sale, the chief operating officer now owns 686,389 shares in the company, valued at $5,106,734.16. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PRTH shares. Keefe, Bruyette & Woods raised Priority Technology from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $10.00 to $14.00 in a research note on Thursday, January 16th. B. Riley boosted their price objective on Priority Technology from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Finally, Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, November 22nd.

Priority Technology Trading Up 0.9 %

The stock has a market cap of $703.29 million, a price-to-earnings ratio of -21.69 and a beta of 1.17. The company has a 50 day simple moving average of $9.77 and a 200-day simple moving average of $7.22.

Priority Technology (NASDAQ:PRTH - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.12. The business had revenue of $227.05 million for the quarter, compared to analyst estimates of $221.15 million. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. During the same quarter last year, the firm earned ($0.16) EPS. Equities analysts forecast that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Priority Technology in the 3rd quarter valued at $91,000. SG Americas Securities LLC bought a new position in shares of Priority Technology in the fourth quarter worth about $100,000. BNP Paribas Financial Markets boosted its position in Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company's stock valued at $109,000 after buying an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology during the 3rd quarter worth $112,000. Finally, Jane Street Group LLC increased its holdings in Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company's stock worth $153,000 after purchasing an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company's stock.

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.