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

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been assigned a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several analysts have issued reports on the stock. Industrial Alliance Securities set a $11.00 target price on shares of Priority Technology in a research note on Thursday, November 6th. Keefe, Bruyette & Woods lowered Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $6.00 in a research report on Tuesday, November 11th. Wall Street Zen downgraded Priority Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Priority Technology in a research report on Monday, December 29th. Finally, Zacks Research upgraded Priority Technology from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Priority Technology during the 2nd quarter valued at $29,000. BNP Paribas Financial Markets grew its stake in Priority Technology by 57.3% in the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock valued at $35,000 after purchasing an additional 1,863 shares in the last quarter. Strs Ohio acquired a new position in Priority Technology in the 1st quarter worth about $46,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Priority Technology during the 2nd quarter worth about $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 buying an additional 2,648 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

Priority Technology Price Performance

NASDAQ:PRTH opened at $5.91 on Monday. The stock has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $6.62. The firm has a market capitalization of $483.85 million, a price-to-earnings ratio of 11.15 and a beta of 1.40. Priority Technology has a 1-year low of $4.44 and a 1-year high of $12.47.

Priority Technology (NASDAQ:PRTH) last released its earnings results on Thursday, November 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Priority Technology had a negative return on equity of 60.29% and a net margin of 5.78%.The firm had revenue of $241.44 million during the quarter, compared to analysts’ expectations of $251.74 million. Equities analysts predict that Priority Technology will post -0.09 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.