Priority Technology’s (PRTH) “Market Perform” Rating Reiterated at Keefe, Bruyette & Woods

Priority Technology (NASDAQ:PRTH)‘s stock had its “market perform” rating reiterated by research analysts at Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They currently have a $9.00 price target on the stock, up from their prior price target of $5.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 28.39% from the company’s current price.

Separately, B. Riley lifted their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd.

Priority Technology Trading Up 5.7 %

Shares of PRTH traded up $0.38 during mid-day trading on Friday, hitting $7.01. 40,015 shares of the company traded hands, compared to its average volume of 49,796. Priority Technology has a one year low of $2.79 and a one year high of $7.80. The stock has a market capitalization of $538.59 million, a price-to-earnings ratio of -10.75 and a beta of 1.01. The business has a 50-day moving average of $6.09 and a 200 day moving average of $5.10.

Priority Technology (NASDAQ:PRTH) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%. The company had revenue of $219.87 million for the quarter.

Insider Activity

In other news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Charles Priore sold 16,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the transaction, the chief executive officer now owns 34,301,608 shares in the company, valued at $174,252,168.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,498 shares of company stock worth $368,761 over the last three months. 76.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Priority Technology during the first quarter worth $50,000. Williams & Novak LLC purchased a new stake in Priority Technology in the second quarter valued at approximately $77,000. State Board of Administration of Florida Retirement System purchased a new stake in Priority Technology in the first quarter valued at approximately $91,000. Jacobs Levy Equity Management Inc. acquired a new position in Priority Technology in the first quarter valued at approximately $164,000. Finally, Renaissance Technologies LLC acquired a new position in Priority Technology in the second quarter valued at approximately $202,000. 11.52% of the stock is 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.