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

Priority Technology Holdings, Inc. (NASDAQ:PRTH) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.75.

Several brokerages have recently weighed in on PRTH. TD Securities reduced their price objective on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Zacks Research raised Priority Technology from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a report on Friday, March 27th. TD Cowen reduced their target price on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Wall Street Zen raised Priority Technology from a “hold” rating to a “buy” rating in a report on Sunday, May 17th.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently bought and sold shares of PRTH. AQR Capital Management LLC purchased a new stake in Priority Technology in the 1st quarter valued at $2,292,000. 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 valued at $89,000 after purchasing an additional 2,648 shares during the last quarter. NewEdge Advisors LLC raised its position in Priority Technology by 1,134.1% in the 1st quarter. NewEdge Advisors LLC now owns 15,759 shares of the company’s stock valued at $107,000 after purchasing an additional 14,482 shares during the last quarter. Strs Ohio purchased a new stake in Priority Technology in the 1st quarter valued at $46,000. Finally, Rhumbline Advisers raised its position in Priority Technology by 10.2% in the 1st quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after purchasing an additional 2,425 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Priority Technology Trading Down 4.0%

Shares of NASDAQ:PRTH opened at $5.82 on Friday. The company has a market capitalization of $479.34 million, a PE ratio of 8.20 and a beta of 1.55. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89. The firm has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $5.51.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.06. The business had revenue of $249.56 million during the quarter, compared to the consensus estimate of $242.87 million. Priority Technology had a net margin of 5.85% and a negative return on equity of 83.50%. As a group, equities research analysts predict that Priority Technology will post 1.24 EPS for the current fiscal 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.