Priority Technology (NASDAQ:PRTH) Hits New 1-Year High – Here’s What Happened

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $12.32 and last traded at $12.26, with a volume of 116011 shares changing hands. The stock had previously closed at $11.49.

Wall Street Analyst Weigh In

PRTH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. B. Riley increased their target price on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Lake Street Capital lifted their price target 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.

Priority Technology Stock Up 2.3 %

The stock has a fifty day simple moving average of $8.58 and a 200 day simple moving average of $6.65. The firm has a market capitalization of $907.08 million, a P/E ratio of -27.98 and a beta of 1.20.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total value of $1,808,317.60. Following the sale, the insider now owns 711,853 shares in the company, valued at $7,545,641.80. The trade was a 19.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Priority Technology during the third quarter valued at approximately $91,000. BNP Paribas Financial Markets raised its holdings in shares of Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after acquiring an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Priority Technology during the 3rd quarter valued at approximately $112,000. Jane Street Group LLC grew its holdings in shares of Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after purchasing an additional 1,293 shares in the last quarter. Finally, Barclays PLC increased its position in Priority Technology by 255.9% in the third quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after purchasing an additional 18,741 shares during the last quarter. Hedge funds and other 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.