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

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have been given a consensus rating of “Hold” by the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.75.

PRTH has been the topic of a number of recent research reports. TD Securities lowered their target price on Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Wall Street Zen downgraded Priority Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. TD Cowen lowered their price objective on shares of Priority Technology from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a report on Friday. Finally, Zacks Research lowered shares of Priority Technology from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th.

Priority Technology Trading Up 1.3%

Shares of PRTH stock opened at $4.70 on Tuesday. Priority Technology has a 12-month low of $4.44 and a 12-month high of $8.89. The stock has a market capitalization of $386.76 million, a P/E ratio of 6.81 and a beta of 1.39. The firm’s 50 day moving average is $5.44 and its 200 day moving average is $5.97.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Tuesday, March 10th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). Priority Technology had a net margin of 5.84% and a negative return on equity of 66.50%. The firm had revenue of $247.13 million for the quarter, compared to the consensus estimate of $247.92 million. As a group, equities analysts predict that Priority Technology will post -0.09 earnings per share for the current year.

Institutional Investors Weigh In On Priority Technology

Several hedge funds and other institutional investors have recently modified their holdings of PRTH. Raymond James Financial Inc. purchased a new position in Priority Technology during the second quarter valued at $29,000. BNP Paribas Financial Markets raised its stake in shares of Priority Technology by 57.3% in the third quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $35,000 after buying an additional 1,863 shares during the period. Strs Ohio bought a new position in shares of Priority Technology in the first quarter worth about $46,000. Invesco Ltd. purchased a new position in shares of Priority Technology during the 4th quarter valued at about $58,000. Finally, AXQ Capital LP purchased a new position in shares of Priority Technology during the 4th quarter valued at about $80,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

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.