Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives $8.75 Consensus Price Target from Analysts

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have received a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.75.

Several equities research analysts have commented on PRTH shares. Zacks Research lowered Priority Technology from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. TD Securities dropped their price target on Priority Technology from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Wall Street Zen upgraded Priority Technology from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. 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 research note on Wednesday, March 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a research note on Friday, March 27th.

Institutional Investors Weigh In On Priority Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRTH. AQR Capital Management LLC acquired a new stake in Priority Technology during the first quarter worth about $2,292,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $89,000 after buying an additional 2,648 shares in the last quarter. NewEdge Advisors LLC grew 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 valued at $107,000 after buying an additional 14,482 shares in the last quarter. Strs Ohio acquired a new stake in shares of Priority Technology in the first quarter valued at about $46,000. Finally, Rhumbline Advisers grew its stake in shares of Priority Technology by 10.2% in the first quarter. Rhumbline Advisers now owns 26,131 shares of the company’s stock valued at $178,000 after buying an additional 2,425 shares in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Trading Up 3.1%

NASDAQ PRTH opened at $5.31 on Friday. The company has a market capitalization of $436.96 million, a PE ratio of 7.70 and a beta of 1.51. The business’s 50-day moving average price is $5.17 and its 200 day moving average price is $5.73. Priority Technology has a twelve month low of $4.44 and a twelve month high of $8.89.

Priority Technology (NASDAQ:PRTH) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The firm had revenue of $247.13 million for the quarter, compared to analyst estimates of $247.92 million. Priority Technology had a negative return on equity of 66.50% and a net margin of 5.84%. Equities analysts predict that Priority Technology will post 1.17 EPS 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.