Priority Technology Holdings, Inc. (NASDAQ:PRTH – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $8.75.
Several analysts recently issued reports on PRTH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Priority Technology in a report on Wednesday, June 24th. Zacks Research downgraded Priority Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised Priority Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th.
View Our Latest Stock Report on PRTH
Priority Technology Price Performance
Priority Technology (NASDAQ:PRTH – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Priority Technology had a net margin of 5.85% and a negative return on equity of 83.50%. The company had revenue of $249.56 million during the quarter, compared to analyst estimates of $242.87 million. On average, research analysts anticipate that Priority Technology will post 1.24 EPS for the current year.
Hedge Funds Weigh In On Priority Technology
A number of hedge funds have recently added to or reduced their stakes in PRTH. FourWorld Capital Management LLC grew its position in Priority Technology by 330.0% in the first quarter. FourWorld Capital Management LLC now owns 1,583,904 shares of the company’s stock worth $7,476,000 after acquiring an additional 1,215,583 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Priority Technology by 1,912.7% during the 4th quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock valued at $3,876,000 after purchasing an additional 675,803 shares in the last quarter. Norwood Investment Partners LP bought a new position in shares of Priority Technology during the 4th quarter valued at $3,433,000. Beartown Capital Management LLC acquired a new stake in shares of Priority Technology in the 4th quarter valued at $2,180,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Priority Technology in the 1st quarter valued at $2,292,000. Institutional investors and hedge funds own 11.52% of the company’s stock.
Priority Technology Company Profile
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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