Priority Technology (NASDAQ:PRTH) Stock Price Down 0.9%

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) dropped 0.9% during trading on Tuesday . The stock traded as low as $3.17 and last traded at $3.18. Approximately 16,837 shares changed hands during trading, a decline of 43% from the average daily volume of 29,358 shares. The stock had previously closed at $3.21.

Wall Street Analyst Weigh In

Separately, B. Riley increased their price objective on shares of Priority Technology from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th.

Priority Technology Stock Performance

The firm has a market cap of $241.01 million, a price-to-earnings ratio of -5.05 and a beta of 0.88. The business’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.34.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $199.28 million for the quarter, compared to analysts’ expectations of $204.19 million. Sell-side analysts anticipate that Priority Technology Holdings, Inc. will post -0.27 earnings per share for the current fiscal year.

Insider Activity at Priority Technology

In related news, insider Sean Kiewiet sold 10,000 shares of Priority Technology stock in a transaction on Monday, April 1st. The shares were sold at an average price of $3.30, for a total value of $33,000.00. Following the sale, the insider now owns 1,351,853 shares of the company’s stock, valued at approximately $4,461,114.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 15,919 shares of company stock valued at $52,136. 77.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Priority Technology stock. Panagora Asset Management Inc. lifted its stake in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,602 shares of the company’s stock after acquiring an additional 7,812 shares during the period. Panagora Asset Management Inc. owned 0.06% of Priority Technology worth $152,000 as of its most recent filing with the Securities & Exchange Commission. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Company Profile

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.