Southside Capital LLC recently announced the acquisition of new stake in Priority Technology Holdings Inc. (NASDAQ:PRTH). The institutional investor has increased its shareholding in the Technology company by 39.23% to 0.3 million shares with purchase of 84531.0 shares. This fresh investment now brings its stake to 0.45% valued currently at $0.66 million. In addition, BlackRock Fund Advisors raised its holdings by 40763.0 to 0.3 million shares. And Invenomic Capital Management LP has lifted its position by 32.53% or 45518.0 shares – to 0.19 million shares.
With over 5.34 million Priority Technology Holdings Inc. (PRTH) shares trading Tuesday and a closing price of $2.33 on the day, the dollar volume was approximately $12.44 million. The shares have shown a positive weekly performance of 10.19% and its price on 09/01/20 gained nearly 19.23%. Currently, there are 67.11M common shares owned by the public and among those 10.68M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PRTH have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Priority Technology Holdings Inc. stock is 2.00 for the next 12 months. But an upside of 70.88% will see the stock hit the forecast high price target while mean target price for the stock is $8.00.
Insiders at the company have transacted a total of 657 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 780,765 shares. Insider sales of the common stock occurred on 647 occasions, with total insider shares sold totaling 197,826 shares.
The top 3 mutual fund holders in Priority Technology Holdings Inc. are AMG TimesSquare Small Cap Growth, Putnam Multi Cap Core Fund, and Northern Lights Fund Trust II – B. AMG TimesSquare Small Cap Growth owns 0.44 million shares of the company’s stock, all valued at over $0.98 million. Northern Lights Fund Trust II – B sold 10297.0 shares to bring its total holdings to over 0.13 million shares at a value of $0.29 million. Northern Lights Fund Trust II – B now owns shares totaling to 0.19% of the shares outstanding.
Shares of Priority Technology Holdings Inc. (NASDAQ: PRTH) opened at $2.16, up $0.21 from a prior closing price of $1.95. However, the script later closed the day at $2.33, up 19.23%. The company’s stock has a 5-day price change of 10.19% and 46.23% over the past three months. PRTH shares are trading -5.10% year to date (YTD), with the 12-month market performance down to -56.70% lower. It has a 12-month low price of $1.33 and touched a high of $6.60 over the same period. Currently, 5.34 million shares have been traded, compared to an average intraday trading volume of 67.46K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.49%, 1.16%, and -0.44% respectively.
Institutional ownership of Priority Technology Holdings Inc. (NASDAQ: PRTH) shares accounts for 7.20% of the company’s 67.11M shares outstanding. Mutual fund holders own 4.09%, while other institutional holders and individual stakeholders account for 89.25% and 2.08% respectively.
It has a market capitalization of $152.66M and a beta (3y monthly) value of 0.13. The earnings-per-share (ttm) stands at -$0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.99% over the week and 9.82% over the month.
Analysts forecast that Priority Technology Holdings Inc. (PRTH) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.46 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Priority Technology Holdings Inc. (PRTH) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PRTH, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on June 30, 2020, with the firm’s price target at $8. ROTH Capital coverage for the Priority Technology Holdings Inc. (PRTH) stock in a research note released on October 11, 2019 offered a Buy rating with a price target of $9.