Priority Technology Holdings, Inc. (NASDAQ:PRTH) Receives Average Rating of “Hold” from Analysts

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

Several research firms have commented on PRTH. Alliance Global Partners reiterated a “buy” rating on shares of Priority Technology in a report on Thursday, November 6th. Keefe, Bruyette & Woods downgraded Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their price target for the stock from $9.00 to $6.00 in a research note on Tuesday, November 11th. Zacks Research upgraded shares of Priority Technology from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. iA Financial set a $11.00 target price on Priority Technology in a report on Thursday, November 6th. Finally, Wall Street Zen cut shares of Priority Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd.

Institutional Investors Weigh In On Priority Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Priority Technology during the second quarter worth $29,000. BNP Paribas Financial Markets lifted its stake in shares of Priority Technology by 57.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after purchasing an additional 1,863 shares during the period. Strs Ohio acquired a new position in Priority Technology in the first quarter valued at $46,000. The Manufacturers Life Insurance Company purchased a new position in shares of Priority Technology during the 2nd quarter worth about $82,000. Finally, Invesco Ltd. acquired a new position in Priority Technology during the fourth quarter worth approximately $58,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Priority Technology Price Performance

PRTH opened at $5.55 on Friday. Priority Technology has a 12 month low of $4.44 and a 12 month high of $10.92. The stock has a market capitalization of $454.38 million, a price-to-earnings ratio of 10.47 and a beta of 1.40. The business has a fifty day moving average price of $5.65 and a 200 day moving average price of $6.42.

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.