Rajiv Kumar Sells 10,000 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) Stock

Priority Technology Holdings, Inc. (NASDAQ:PRTH) CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Priority Technology Stock Performance

Shares of PRTH stock opened at $6.35 on Thursday. Priority Technology Holdings, Inc. has a 1 year low of $2.79 and a 1 year high of $7.00. The firm has a market capitalization of $508.41 million, a PE ratio of -10.95 and a beta of 0.97. The stock has a fifty day moving average of $5.49 and a two-hundred day moving average of $4.37.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $219.87 million for the quarter. Priority Technology had a net margin of 0.74% and a negative return on equity of 9.60%.

Institutional Trading of Priority Technology

Institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. raised its holdings in Priority Technology by 22.5% during the fourth quarter. Panagora Asset Management Inc. now owns 42,602 shares of the company’s stock worth $152,000 after purchasing an additional 7,812 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Priority Technology during the 1st quarter valued at $91,000. Vanguard Group Inc. increased its position in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after purchasing an additional 156,044 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of Priority Technology in the 1st quarter worth $164,000. Finally, Virtu Financial LLC acquired a new stake in shares of Priority Technology in the first quarter valued at $50,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price target on shares of Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 9th.

Priority Technology Company Profile

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.