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

Priority Technology Holdings, Inc. (NASDAQ:PRTH) General Counsel Bradley J. Miller sold 100,000 shares of the business’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 completion of the sale, the general counsel now directly owns 243,620 shares in the company, valued at $2,082,951. This trade represents a 29.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Priority Technology Stock Performance

Shares of NASDAQ PRTH opened at $7.80 on Monday. Priority Technology Holdings, Inc. has a 52-week low of $4.09 and a 52-week high of $12.47. The business has a fifty day moving average of $7.47 and a two-hundred day moving average of $8.75. The stock has a market cap of $622.07 million, a PE ratio of -18.57 and a beta of 1.51.

Priority Technology (NASDAQ:PRTH) last announced its earnings results on Tuesday, May 6th. The company reported $0.22 earnings per share (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%. Analysts predict that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of Priority Technology

Several hedge funds have recently modified their holdings of PRTH. AlphaQuest LLC acquired a new position in shares of Priority Technology in the 1st quarter worth approximately $37,000. Strs Ohio bought a new position in Priority Technology in the 1st quarter valued at $46,000. CWM LLC boosted its stake in Priority Technology by 13,386.7% in the first quarter. CWM LLC now owns 8,092 shares of the company’s stock worth $55,000 after purchasing an additional 8,032 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Priority Technology during the fourth quarter worth $56,000. Finally, US Bancorp DE acquired a new stake in shares of Priority Technology in the first quarter valued at $58,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRTH. Keefe, Bruyette & Woods decreased their target price on shares of Priority Technology from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. TD Cowen raised Priority Technology to a “strong-buy” rating in a report on Tuesday, March 18th.

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.