Priority Technology (NASDAQ:PRTH) Shares Up 7.3% – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) shot up 7.3% on Tuesday . The stock traded as high as $7.93 and last traded at $7.93. 32,137 shares changed hands during trading, a decline of 37% from the average session volume of 51,212 shares. The stock had previously closed at $7.39.

Analyst Upgrades and Downgrades

PRTH has been the topic of several research reports. B. Riley boosted their price target on shares of Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $9.00 target price (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th.

Priority Technology Stock Down 1.4 %

The firm’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $5.23.

Insider Buying and Selling at Priority Technology

In other news, CEO Thomas Charles Priore sold 16,000 shares of Priority Technology stock in a transaction on Friday, August 23rd. The stock was 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 approximately $174,252,168.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Sean Kiewiet sold 7,201 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $5.90, for a total transaction of $42,485.90. Following the completion of the sale, the insider now directly owns 1,094,652 shares in the company, valued at approximately $6,458,446.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Charles Priore sold 16,000 shares of Priority Technology stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total value of $81,280.00. Following the sale, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at approximately $174,252,168.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,498 shares of company stock valued at $368,761 in the last three months. 76.30% of the stock is currently owned by company insiders.

Institutional Trading of Priority Technology

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in Priority Technology in the 1st quarter worth approximately $50,000. Williams & Novak LLC bought a new stake in shares of Priority Technology during the 2nd quarter worth $77,000. State Board of Administration of Florida Retirement System acquired a new position in Priority Technology in the 1st quarter valued at $91,000. BNP Paribas Financial Markets raised its holdings in Priority Technology by 61.7% in the 3rd 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology during the 3rd quarter worth $112,000. Institutional investors own 11.52% of the company’s stock.

About Priority Technology

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.