Priority Technology (NASDAQ:PRTH) Shares Down 2.6% – Time to Sell?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price traded down 2.6% on Thursday . The stock traded as low as $11.25 and last traded at $11.44. 83,130 shares changed hands during trading, a decline of 11% from the average session volume of 92,905 shares. The stock had previously closed at $11.75.

Wall Street Analyst Weigh In

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

Priority Technology Stock Down 0.9 %

The firm has a market capitalization of $898.58 million, a price-to-earnings ratio of -27.71 and a beta of 1.20. The stock has a 50 day moving average of $8.58 and a 200 day moving average of $6.65.

Insider Activity

In other Priority Technology news, insider Sean Kiewiet sold 22,178 shares of Priority Technology stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $10.01, for a total value of $222,001.78. Following the completion of the transaction, the insider now directly owns 1,009,675 shares in the company, valued at $10,106,846.75. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 231,215 shares of company stock worth $2,360,486. 76.30% of the stock is currently owned by insiders.

Institutional Trading of Priority Technology

Hedge funds have recently made changes to their positions in the stock. Rebalance LLC bought a new stake in Priority Technology in the 3rd quarter valued at about $4,822,000. Geode Capital Management LLC raised its holdings 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 buying an additional 21,598 shares during the last quarter. Corsair Capital Management L.P. boosted its position in shares of Priority Technology by 10.5% during the third quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock worth $720,000 after buying an additional 10,000 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in Priority Technology by 17.0% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after buying an additional 9,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Priority Technology by 15.8% in 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 during the period. 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.