Priority Technology (NASDAQ:PRTH) Receives Outperform Rating from Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH)‘s stock had its “outperform” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research report issued on Friday,Benzinga reports. They presently have a $12.00 price target on the stock, down from their previous price target of $14.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 55.90% from the stock’s previous close.

A number of other research firms also recently commented on PRTH. B. Riley boosted their price target 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. Lake Street Capital upped their price objective on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Priority Technology Stock Down 0.7 %

Priority Technology stock traded down $0.05 during midday trading on Friday, reaching $7.70. The company’s stock had a trading volume of 358,376 shares, compared to its average volume of 699,307. The company has a market cap of $594.19 million, a P/E ratio of -18.31 and a beta of 0.99. Priority Technology has a fifty-two week low of $2.82 and a fifty-two week high of $12.47. The business has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $8.27.

Insider Buying and Selling

In other news, insider Sean Kiewiet sold 170,596 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total value of $1,808,317.60. Following the completion of the sale, the insider now directly owns 711,853 shares in the company, valued at approximately $7,545,641.80. The trade was a 19.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Vito Priore sold 1,242,856 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $9,246,848.64. Following the transaction, the director now directly owns 4,071,574 shares of the company’s stock, valued at $30,292,510.56. This represents a 23.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,293,227 shares of company stock valued at $39,921,204 in the last three months. 76.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Priority Technology

Several hedge funds and other institutional investors have recently modified their holdings of PRTH. Jefferies Financial Group Inc. bought a new position in Priority Technology during the fourth quarter valued at $684,000. Two Sigma Advisers LP purchased a new stake in Priority Technology during the 4th quarter worth about $327,000. Two Sigma Investments LP purchased a new position in shares of Priority Technology during the fourth quarter worth about $882,000. Steamboat Capital Partners LLC acquired a new stake in shares of Priority Technology in the fourth quarter valued at about $9,382,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Priority Technology during the fourth quarter valued at approximately $183,000. 11.52% of the stock is 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.