Ranjana Ram Sells 6,615 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) COO Ranjana Ram sold 6,615 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $49,215.60. Following the completion of the sale, the chief operating officer now directly owns 686,389 shares of the company’s stock, valued at approximately $5,106,734.16. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 17th, Ranjana Ram sold 18,385 shares of Priority Technology stock. The stock was sold at an average price of $7.44, for a total value of $136,784.40.

Priority Technology Stock Down 4.6 %

Shares of PRTH stock opened at $9.03 on Friday. The stock’s 50-day moving average price is $9.76 and its 200 day moving average price is $7.21. The stock has a market capitalization of $697.12 million, a PE ratio of -21.50 and a beta of 1.17. 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 announced its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.12. Priority Technology had a negative return on equity of 15.86% and a net margin of 1.96%. The company had revenue of $227.05 million for the quarter, compared to the consensus estimate of $221.15 million. During the same period last year, the business posted ($0.16) EPS. Analysts expect that Priority Technology Holdings, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Priority Technology

Several institutional investors have recently bought and sold shares of the company. Rebalance LLC purchased a new stake in shares of Priority Technology in the third quarter valued at about $4,822,000. Renaissance Technologies LLC acquired a new stake in Priority Technology in the second quarter valued at about $202,000. JPMorgan Chase & Co. boosted its holdings in Priority Technology by 273.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,900 shares of the company’s stock valued at $232,000 after purchasing an additional 24,811 shares in the last quarter. Geode Capital Management LLC increased its position in Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Priority Technology during the 4th quarter worth approximately $237,000. 11.52% of the stock is owned by institutional investors and hedge funds.

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.