Insider Selling: Priority Technology Holdings, Inc. (NASDAQ:PRTH) COO Sells 18,385 Shares of Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) COO Ranjana Ram sold 18,385 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $7.44, for a total transaction of $136,784.40. Following the completion of the sale, the chief operating officer now directly owns 693,004 shares in the company, valued at $5,155,949.76. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ranjana Ram also recently made the following trade(s):

• On Tuesday, January 21st, Ranjana Ram sold 6,615 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total transaction of $49,215.60.

Priority Technology Stock Up 5.7 %

Shares of NASDAQ PRTH opened at $9.47 on Thursday. The firm’s 50-day moving average price is $9.73 and its 200-day moving average price is $7.19. Priority Technology Holdings, Inc. has a 52-week low of $2.82 and a 52-week high of $12.44.

Priority Technology (NASDAQ:PRTH) last issued its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. The company had revenue of $227.05 million for the quarter, compared to analysts’ expectations of $221.15 million. Priority Technology had a net margin of 1.96% and a negative return on equity of 15.86%. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, equities research analysts forecast that Priority Technology Holdings, Inc. will post -0.09 EPS for the current year.

Institutional Trading of Priority Technology

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its position in Priority Technology by 6.1% in the third 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 during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares during the last quarter. SG Americas Securities LLC bought a new stake in Priority Technology during the fourth quarter valued at approximately $100,000. Finally, Pekin Hardy Strauss Inc. increased its holdings in Priority Technology by 17.0% during the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock valued at $455,000 after buying an additional 9,675 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.