Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw strong trading volume on Tuesday . 122,139 shares were traded during trading, an increase of 81% from the previous session’s volume of 67,544 shares.The stock last traded at $9.92 and had previously closed at $9.92.

Wall Street Analysts Forecast Growth

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

Priority Technology Trading Up 0.5 %

The company’s 50-day moving average price is $6.94 and its 200 day moving average price is $5.73.

Insiders Place Their Bets

In other news, insider Sean Kiewiet sold 11,664 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.61, for a total transaction of $77,099.04. Following the transaction, the insider now directly owns 1,073,494 shares of the company’s stock, valued at $7,095,795.34. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the sale, the chief accounting officer now directly owns 11,587 shares in the company, valued at $71,028.31. This trade represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,032 shares of company stock worth $737,382 in the last quarter. 76.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Priority Technology

A number of institutional investors have recently modified their holdings of PRTH. Virtu Financial LLC acquired a new stake in shares of Priority Technology in the 3rd quarter valued at about $91,000. Barclays PLC increased its holdings in shares of Priority Technology by 255.9% in 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 during the period. Geode Capital Management LLC raised its stake in shares of Priority Technology by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after purchasing an additional 21,598 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Priority Technology by 6.1% during the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after purchasing an additional 1,293 shares during the last quarter. Finally, Corsair Capital Management L.P. lifted its position in shares of Priority Technology by 10.5% in the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.