Priority Technology (NASDAQ:PRTH) Trading 5.8% Higher – What’s Next?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price was up 5.8% during mid-day trading on Monday . The stock traded as high as $9.09 and last traded at $9.09. Approximately 128,629 shares changed hands during trading, an increase of 59% from the average daily volume of 80,814 shares. The stock had previously closed at $8.59.

Analyst Upgrades and Downgrades

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

Priority Technology Trading Up 4.9 %

The stock has a 50 day simple moving average of $7.79 and a 200 day simple moving average of $6.27. The stock has a market cap of $695.55 million, a P/E ratio of -21.45 and a beta of 1.20.

Insider Activity

In related news, insider Sean Kiewiet sold 4,483 shares of Priority Technology stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the transaction, the insider now owns 1,065,158 shares of the company’s stock, valued at $6,390,948. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 76,766 shares of company stock valued at $656,166. Company insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

A number of hedge funds have recently added to or reduced their stakes in PRTH. Rebalance LLC bought a new position in Priority Technology during the third quarter worth $4,822,000. Pekin Hardy Strauss Inc. bought a new stake in Priority Technology during the second quarter worth $301,000. Renaissance Technologies LLC purchased a new position in Priority Technology during the second quarter worth about $202,000. Geode Capital Management LLC increased its position in shares of Priority Technology by 5.8% during the third quarter. Geode Capital Management LLC now owns 396,335 shares of the company’s stock valued at $2,707,000 after acquiring an additional 21,598 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Priority Technology by 255.9% during the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after purchasing an additional 18,741 shares during the period. 11.52% of the stock is currently owned by institutional investors.

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.