B. Riley Boosts Priority Technology (NASDAQ:PRTH) Price Target to $13.00

Priority Technology (NASDAQ:PRTH) had its price target boosted by B. Riley from $11.00 to $13.00 in a report issued on Monday morning, Benzinga reports. B. Riley currently has a buy rating on the stock.

Separately, Keefe, Bruyette & Woods raised their target price on Priority Technology from $4.50 to $5.00 and gave the company a market perform rating in a report on Friday, August 9th.

Priority Technology Trading Down 1.5 %

NASDAQ PRTH opened at $7.05 on Monday. Priority Technology has a 1 year low of $2.79 and a 1 year high of $7.22. The company has a fifty day simple moving average of $5.61 and a 200 day simple moving average of $4.49. The company has a market cap of $541.65 million, a P/E ratio of -12.34 and a beta of 0.97.

Priority Technology (NASDAQ:PRTH) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $219.87 million for the quarter. Priority Technology had a net margin of 0.74% and a negative return on equity of 9.60%.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 7,519 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.05, for a total value of $37,970.95. Following the completion of the sale, the insider now owns 1,176,561 shares in the company, valued at $5,941,633.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Priority Technology news, insider Sean Kiewiet sold 7,519 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.05, for a total value of $37,970.95. Following the completion of the transaction, the insider now owns 1,176,561 shares of the company’s stock, valued at approximately $5,941,633.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,395 shares of company stock worth $529,410. 76.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Priority Technology by 25.7% in the first quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after acquiring an additional 156,044 shares during the period. Pekin Hardy Strauss Inc. bought a new stake in shares of Priority Technology in the 2nd quarter valued at approximately $301,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Priority Technology in the 1st quarter worth approximately $164,000. Renaissance Technologies LLC bought a new position in shares of Priority Technology during the 2nd quarter worth approximately $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Priority Technology in the 1st quarter valued at $91,000. Institutional investors and hedge funds 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.