Priority Technology (NASDAQ:PRTH) Shares Gap Down – Here’s What Happened

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares gapped down prior to trading on Thursday . The stock had previously closed at $8.06, but opened at $7.75. Priority Technology shares last traded at $7.71, with a volume of 1,095,493 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Lake Street Capital lifted their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 22nd. B. Riley lifted their target price on shares of 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 upgraded shares of Priority Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $10.00 to $14.00 in a report on Thursday.

Priority Technology Trading Up 2.8 %

The company has a market capitalization of $687.08 million, a PE ratio of -21.19 and a beta of 1.17. The business’s fifty day moving average is $9.70 and its two-hundred day moving average is $7.11.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total value of $222,001.78. Following the completion of the transaction, the insider now directly owns 1,009,675 shares in the company, valued at $10,106,846.75. The trade was a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 231,215 shares of company stock worth $2,360,486 in the last three months. Insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently added to or reduced their stakes in PRTH. Virtu Financial LLC bought a new stake in Priority Technology in the 3rd quarter worth approximately $91,000. SG Americas Securities LLC bought a new stake in Priority Technology in the 4th quarter worth approximately $100,000. BNP Paribas Financial Markets grew its position in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Priority Technology in the 3rd quarter worth approximately $112,000. Finally, Jane Street Group LLC grew its position in Priority Technology by 6.1% in 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 period. Institutional investors own 11.52% of the company’s stock.

Priority Technology Company Profile

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.