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

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.50.

A number of research analysts have weighed in on the company. Zacks Research downgraded Priority Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 9th. Alliance Global Partners reaffirmed a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. Wall Street Zen downgraded Priority Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Keefe, Bruyette & Woods lowered shares of Priority Technology from a “moderate buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $6.00 in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Monday, December 29th.

Priority Technology Trading Down 1.6%

Shares of NASDAQ PRTH opened at $5.51 on Thursday. The firm has a fifty day simple moving average of $5.68 and a two-hundred day simple moving average of $6.87. Priority Technology has a 12 month low of $4.44 and a 12 month high of $12.47. The firm has a market capitalization of $451.10 million, a PE ratio of 10.40 and a beta of 1.37.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). Priority Technology had a net margin of 5.78% and a negative return on equity of 60.29%. The company had revenue of $241.44 million for the quarter, compared to analysts’ expectations of $251.74 million. On average, sell-side analysts predict that Priority Technology will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Priority Technology during the 2nd quarter valued at $29,000. BNP Paribas Financial Markets boosted its position 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 valued at $35,000 after buying an additional 1,863 shares during the last quarter. Strs Ohio purchased a new stake in shares of Priority Technology during the first quarter valued at $46,000. The Manufacturers Life Insurance Company bought a new stake in Priority Technology in the 2nd quarter worth about $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Priority Technology by 25.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,030 shares of the company’s stock worth $89,000 after buying an additional 2,648 shares during the last quarter. Institutional investors own 11.52% of the company’s stock.

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.