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

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has received an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.50.

Several research firms recently commented on PRTH. Alliance Global Partners reiterated a “buy” rating on shares of Priority Technology in a research note on Thursday, November 6th. iA Financial set a $11.00 price target on shares of Priority Technology in a research report on Thursday, November 6th. Wall Street Zen lowered Priority Technology from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Keefe, Bruyette & Woods lowered shares of Priority Technology from a “moderate buy” rating to a “hold” rating and reduced their target price for the company from $9.00 to $6.00 in a research note on Tuesday, November 11th. Finally, Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th.

Priority Technology Stock Down 3.1%

PRTH opened at $5.55 on Friday. Priority Technology has a 52-week low of $4.44 and a 52-week high of $10.92. The firm has a market capitalization of $454.38 million, a P/E ratio of 10.47 and a beta of 1.40. The firm’s 50 day moving average is $5.65 and its 200-day moving average is $6.42.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Priority Technology by 57.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after purchasing an additional 1,863 shares during the last quarter. State of Wyoming boosted its position in Priority Technology by 4.5% during the 3rd quarter. State of Wyoming now owns 47,259 shares of the company’s stock worth $325,000 after acquiring an additional 2,051 shares during the period. Rhumbline Advisers boosted its holdings in shares of Priority Technology by 10.2% during the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock worth $178,000 after purchasing an additional 2,425 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 valued at $89,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Priority Technology by 14.4% in the third quarter. Alliancebernstein L.P. now owns 25,460 shares of the company’s stock valued at $175,000 after purchasing an additional 3,200 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Company Profile

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.