Kovack Advisors Inc. Sells 2,400 Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH)

Kovack Advisors Inc. reduced its position in shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,700 shares of the company’s stock after selling 2,400 shares during the quarter. Kovack Advisors Inc.’s holdings in Priority Technology were worth $196,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Priority Technology during the 1st quarter worth approximately $50,000. Williams & Novak LLC bought a new stake in shares of Priority Technology during the 2nd quarter valued at $77,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Priority Technology during the 1st quarter valued at $91,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Priority Technology in the 1st quarter worth $164,000. Finally, Renaissance Technologies LLC bought a new position in shares of Priority Technology in the 2nd quarter worth $202,000. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Priority Technology

In other news, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the completion of the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. This represents a 46.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Kiewiet sold 11,664 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.61, for a total transaction of $77,099.04. Following the sale, the insider now owns 1,073,494 shares in the company, valued at approximately $7,095,795.34. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,498 shares of company stock valued at $368,761. Company insiders own 76.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PRTH. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 target price (up previously from $5.00) on shares of Priority Technology in a research note on Friday, November 8th. B. Riley increased their price target on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, September 23rd.

Priority Technology Stock Down 2.8 %

PRTH opened at $7.99 on Friday. The stock has a market cap of $616.56 million, a P/E ratio of -19.02 and a beta of 1.01. Priority Technology Holdings, Inc. has a 12 month low of $2.79 and a 12 month high of $8.90. The company has a fifty day simple moving average of $6.37 and a 200 day simple moving average of $5.31.

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.