Priority Technology (NASDAQ:PRTH) Sees Unusually-High Trading Volume – Should You Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-strong trading volume on Monday . Approximately 116,724 shares were traded during trading, an increase of 132% from the previous session’s volume of 50,347 shares.The stock last traded at $7.20 and had previously closed at $6.99.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PRTH shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.00 price target (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th. B. Riley raised their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, September 23rd.

Priority Technology Trading Down 1.4 %

The stock has a fifty day moving average of $6.21 and a 200-day moving average of $5.23.

Insiders Place Their Bets

In other news, insider Sean Kiewiet sold 5,700 shares of Priority Technology stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.11, for a total value of $29,127.00. Following the sale, the insider now directly owns 1,055,158 shares in the company, valued at $5,391,857.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sean Kiewiet sold 5,700 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the sale, the insider now owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Charles Priore sold 16,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the transaction, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,498 shares of company stock valued at $368,761 in the last quarter. 76.30% of the stock is currently owned by insiders.

Institutional Trading of Priority Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Williams & Novak LLC acquired a new position in shares of Priority Technology during the 2nd quarter worth about $77,000. Virtu Financial LLC bought a new position in Priority Technology during the first quarter worth about $50,000. BNP Paribas Financial Markets increased its position in Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology in the third quarter valued at approximately $112,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Priority Technology in the first quarter valued at approximately $91,000. 11.52% of the stock is owned by institutional investors.

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.