Priority Technology (NASDAQ:PRTH) Stock Price Down 9.5% – Time to Sell?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price was down 9.5% during trading on Monday . The company traded as low as $9.67 and last traded at $9.68. Approximately 175,751 shares traded hands during trading, a decline of 46% from the average daily volume of 324,675 shares. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

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

Priority Technology Stock Performance

The business’s 50 day moving average is $9.42 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $733.38 million, a PE ratio of -22.62 and a beta of 1.17.

Insider Transactions at Priority Technology

In other news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $10.01, for a total transaction of $222,001.78. Following the completion of the transaction, the insider now owns 1,009,675 shares of the company’s stock, valued at approximately $10,106,846.75. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 231,215 shares of company stock valued at $2,360,486. 76.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently made changes to their positions in PRTH. Renaissance Technologies LLC purchased a new position in shares of Priority Technology in the 2nd quarter worth about $202,000. Pekin Hardy Strauss Inc. purchased a new stake in Priority Technology in the second quarter worth approximately $301,000. Rebalance LLC bought a new position in Priority Technology during the third quarter valued at approximately $4,822,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Priority Technology during the third quarter valued at approximately $112,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after acquiring an additional 7,719 shares in the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

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.