Priority Technology Holdings, Inc. (NASDAQ:PRTH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.75.

PRTH has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Priority Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Zacks Research upgraded Priority Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. TD Cowen dropped their price target on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. TD Securities cut their price objective on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research note on Wednesday, June 24th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in Priority Technology during the 1st quarter worth about $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Priority Technology by 25.5% in the first 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. NewEdge Advisors LLC raised its stake in shares of Priority Technology by 1,134.1% in the first quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock worth $107,000 after acquiring an additional 14,482 shares during the last quarter. Strs Ohio acquired a new position in shares of Priority Technology during the first quarter worth approximately $46,000. Finally, Rhumbline Advisers lifted its position 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 in the last quarter. 11.52% of the stock is owned by institutional investors.

Priority Technology Stock Up 7.3%

Shares of Priority Technology stock opened at $7.16 on Thursday. Priority Technology has a 12-month low of $4.44 and a 12-month high of $8.89. The stock has a market capitalization of $589.70 million, a P/E ratio of 10.08 and a beta of 1.54. The company has a 50-day simple moving average of $6.09 and a 200 day simple moving average of $5.65.

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

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.