Priority Technology (NASDAQ:PRTH) Shares Up 4.8% – What’s Next?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price rose 4.8% on Tuesday . The company traded as high as $9.74 and last traded at $9.62. Approximately 32,081 shares changed hands during trading, a decline of 58% from the average daily volume of 76,426 shares. The stock had previously closed at $9.18.

Analyst Upgrades and Downgrades

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

Priority Technology Trading Up 3.1 %

The stock has a market capitalization of $730.31 million, a P/E ratio of -22.52 and a beta of 1.20. The company’s 50-day moving average is $7.58 and its two-hundred day moving average is $6.16.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 4,483 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total value of $26,898.00. Following the completion of the sale, the insider now owns 1,065,158 shares of the company’s stock, valued at $6,390,948. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders sold 76,666 shares of company stock worth $655,166. Company insiders own 76.30% of the company’s stock.

Institutional Trading of Priority Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Priority Technology in the third quarter worth approximately $91,000. Barclays PLC boosted its stake in Priority Technology by 255.9% during the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after buying an additional 18,741 shares in the last quarter. Geode Capital Management LLC grew its holdings in Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock worth $2,707,000 after acquiring an additional 21,598 shares during the period. Jane Street Group LLC raised its position in Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Corsair Capital Management L.P. lifted its holdings in Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after acquiring an additional 10,000 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

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.