Brokerages Set Priority Technology Holdings, Inc. (NASDAQ:PRTH) Target Price at $8.50

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.50.

A number of research analysts have commented on the company. iA Financial set a $11.00 target price on Priority Technology in a research note on Thursday, November 6th. Wall Street Zen upgraded Priority Technology from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods downgraded Priority Technology from a “moderate buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, November 11th. Zacks Research raised shares of Priority Technology from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Priority Technology in a research report on Monday, December 29th.

Hedge Funds Weigh In On Priority Technology

Several hedge funds have recently bought and sold shares of PRTH. Wells Fargo & Company MN increased its holdings in shares of Priority Technology by 1,912.7% during the 4th quarter. Wells Fargo & Company MN now owns 711,136 shares of the company’s stock valued at $3,876,000 after acquiring an additional 675,803 shares during the last quarter. Norwood Investment Partners LP acquired a new stake in Priority Technology in the 4th quarter worth approximately $3,433,000. Beartown Capital Management LLC bought a new stake in Priority Technology during the fourth quarter worth approximately $2,180,000. FourWorld Capital Management LLC acquired a new position in Priority Technology during the fourth quarter valued at approximately $2,007,000. Finally, AQR Capital Management LLC acquired a new position in Priority Technology during the first quarter valued at approximately $2,292,000. 11.52% of the stock is owned by institutional investors and hedge funds.

Priority Technology Stock Up 0.2%

PRTH stock opened at $5.66 on Friday. The company has a 50 day moving average of $5.65 and a two-hundred day moving average of $6.36. The company has a market cap of $463.38 million, a price-to-earnings ratio of 10.68 and a beta of 1.39. Priority Technology has a 12-month low of $4.44 and a 12-month high of $9.32.

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.