Priority Technology (NASDAQ:PRTH) Trading Down 5.5% – Time to Sell?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price traded down 5.5% during mid-day trading on Thursday . The company traded as low as $9.27 and last traded at $9.32. 48,472 shares changed hands during trading, a decline of 36% from the average session volume of 75,321 shares. The stock had previously closed at $9.86.

Analyst Ratings Changes

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

Priority Technology Trading Down 0.8 %

The stock has a market capitalization of $698.64 million, a PE ratio of -21.55 and a beta of 1.20. The firm’s fifty day moving average is $7.53 and its 200-day moving average is $6.11.

Insider Buying and Selling

In other Priority Technology news, insider Sean Kiewiet sold 5,700 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the sale, the insider now directly owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 76,666 shares of company stock worth $655,166. Corporate insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its stake in shares of Priority Technology by 6.1% during 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 during the period. BNP Paribas Financial Markets grew its position in shares of Priority Technology by 61.7% during the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Priority Technology by 15.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after acquiring an additional 7,719 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after purchasing an additional 9,675 shares during the period. Finally, Corsair Capital Management L.P. boosted its stake in Priority Technology by 10.5% during the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after purchasing an additional 10,000 shares in the last quarter. 11.52% of the stock is currently owned by hedge funds and other 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.