Priority Technology (NASDAQ:PRTH) Shares Up 4.8% – Here’s Why

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price shot up 4.8% during mid-day trading on Tuesday . The company traded as high as $9.74 and last traded at $9.62. Approximately 32,081 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 76,426 shares. The stock had previously closed at $9.18.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRTH shares. Keefe, Bruyette & Woods lifted their price target on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. B. Riley raised their target price on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Lake Street Capital boosted their price target on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd.

Priority Technology Trading Down 4.9 %

The stock has a market capitalization of $690.92 million, a price-to-earnings ratio of -21.31 and a beta of 1.20. The business has a 50 day simple moving average of $7.70 and a 200-day simple moving average of $6.21.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 4,483 shares of Priority Technology stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $6.00, for a total value of $26,898.00. Following the transaction, the insider now owns 1,065,158 shares in the company, valued at approximately $6,390,948. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 76,666 shares of company stock worth $655,166 in the last three months. Company insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the third quarter valued at about $91,000. Barclays PLC grew its holdings in Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after purchasing an additional 18,741 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Priority Technology by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after buying an additional 21,598 shares in the last quarter. Jane Street Group LLC grew its stake in Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Corsair Capital Management L.P. grew its holdings in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after acquiring an additional 10,000 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

About Priority Technology

Priority Technology Holdings, Inc operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing.