Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Average Rating of “Moderate Buy” from Analysts

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.75.

Several analysts recently commented on PRTH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Priority Technology in a research note on Wednesday, June 24th. Zacks Research upgraded Priority Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Wall Street Zen raised Priority Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. TD Securities reduced their target price on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, TD Cowen lowered their target price on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th.

Institutional Trading of Priority Technology

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Priority Technology by 57.3% during the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after buying an additional 1,863 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Priority Technology by 10.2% in the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock worth $178,000 after acquiring an additional 2,425 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Priority Technology by 25.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after acquiring an additional 2,648 shares during the last quarter. Alliancebernstein L.P. grew its position in Priority Technology by 14.4% during the 3rd quarter. Alliancebernstein L.P. now owns 25,460 shares of the company’s stock worth $175,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Quarry LP increased its holdings in Priority Technology by 3.9% during the 3rd quarter. Quarry LP now owns 88,122 shares of the company’s stock valued at $605,000 after purchasing an additional 3,303 shares in the last quarter. 11.52% of the stock is owned by institutional investors.

Priority Technology Stock Down 2.9%

NASDAQ:PRTH opened at $6.77 on Thursday. The firm has a market capitalization of $557.58 million, a PE ratio of 9.54 and a beta of 1.54. Priority Technology has a 12-month low of $4.44 and a 12-month high of $8.59. The firm has a 50-day moving average price of $6.26 and a 200 day moving average price of $5.70.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings data on Monday, May 11th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. Priority Technology had a negative return on equity of 83.50% and a net margin of 5.85%.The company had revenue of $249.56 million for the quarter, compared to the consensus estimate of $242.87 million. On average, research analysts expect that Priority Technology will post 1.24 EPS for the current year.

About Priority Technology

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.