Priority Technology Holdings, Inc. (NASDAQ:PRTH – Get Free Report) hit a new 52-week high during trading on Wednesday. The company traded as high as $7.85 and last traded at $7.8450, with a volume of 87,758 shares changing hands. The stock had previously closed at $7.83.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Lake Street Capital cut Priority Technology from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $13.00 to $8.05 in a research report on Monday, September 21st. Keefe, Bruyette & Woods boosted their target price on shares of Priority Technology from $6.50 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, September 22nd. Weiss Ratings upgraded shares of Priority Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Alliance Global Partners lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Thursday, August 6th. Finally, B. Riley Financial lowered shares of Priority Technology from a “buy” rating to a “neutral” rating and set a $8.05 price target on the stock. in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Priority Technology currently has an average rating of “Hold” and a consensus target price of $8.59.
View Our Latest Stock Report on PRTH
Priority Technology Stock Up 0.2%
The firm has a market capitalization of $646.74 million, a P/E ratio of 11.38 and a beta of 1.58. The firm has a 50 day moving average of $6.80 and a 200-day moving average of $6.06.
Priority Technology (NASDAQ:PRTH – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $262.26 million for the quarter, compared to analyst estimates of $257.81 million. Priority Technology had a negative return on equity of 104.91% and a net margin of 5.61%. As a group, research analysts expect that Priority Technology Holdings, Inc. will post 1.23 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new stake in Priority Technology during the second quarter worth about $67,000. The Manufacturers Life Insurance Company bought a new position in Priority Technology in the 2nd quarter valued at about $69,000. Aaron Wealth Advisors LLC bought a new position in Priority Technology in the 1st quarter valued at about $50,000. One68 Global Capital LLC bought a new position in Priority Technology in the 2nd quarter valued at about $73,000. Finally, Legal & General Group Plc acquired a new position in shares of Priority Technology in the 2nd quarter valued at approximately $111,000. Institutional investors and hedge funds own 11.52% of the company’s stock.
About Priority Technology
Priority Technology Holdings, Inc (NASDAQ: PRTH) is a payments technology company that provides payment processing and commerce solutions to businesses, software providers and financial institutions. Its platform supports card and electronic payment acceptance across in-person, online and mobile channels, as well as related payment and reporting functions.
The company offers integrated payments and embedded payment capabilities that can be incorporated into business-management and vertical-market software.
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