Priority Technology Holdings, Inc. (NASDAQ:PRTH – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after B. Riley raised their price target on the stock from $11.00 to $13.00. B. Riley currently has a buy rating on the stock. Priority Technology traded as high as $7.00 and last traded at $6.97, with a volume of 35672 shares. The stock had previously closed at $6.85.
Separately, Keefe, Bruyette & Woods increased their price objective on Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th.
Read Our Latest Analysis on PRTH
Insider Activity
Institutional Trading of Priority Technology
Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System bought a new position in Priority Technology during the first quarter valued at approximately $91,000. Vanguard Group Inc. grew its holdings in shares of Priority Technology by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after purchasing an additional 156,044 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Priority Technology in the 1st quarter worth $164,000. Virtu Financial LLC bought a new stake in Priority Technology in the first quarter worth $50,000. Finally, Williams & Novak LLC bought a new stake in Priority Technology in the second quarter worth $77,000. Institutional investors own 11.52% of the company’s stock.
Priority Technology Stock Down 1.5 %
The firm’s 50-day simple moving average is $5.61 and its 200-day simple moving average is $4.49. The firm has a market capitalization of $541.65 million, a PE ratio of -12.34 and a beta of 0.97.
Priority Technology (NASDAQ:PRTH – Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter. The company 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%.
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.
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