Priority Technology (NASDAQ:PRTH) Price Target Raised to $13.00

Priority Technology (NASDAQ:PRTH) had its price objective lifted by stock analysts at B. Riley from $11.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective suggests a potential upside of 92.02% from the stock’s current price.

Separately, Keefe, Bruyette & Woods increased their price target on Priority Technology from $4.50 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th.

Priority Technology Stock Performance

Shares of PRTH stock opened at $6.77 on Monday. The firm has a market cap of $520.14 million, a price-to-earnings ratio of -11.67 and a beta of 0.97. Priority Technology has a 52 week low of $2.79 and a 52 week high of $7.00. The firm’s 50-day simple moving average is $5.55 and its two-hundred day simple moving average is $4.43.

Priority Technology (NASDAQ:PRTH) last posted its quarterly earnings results 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 during the quarter.

Insider Activity at Priority Technology

In related news, CAO Rajiv Kumar sold 10,000 shares of Priority Technology stock in a transaction that occurred on 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 directly owns 11,587 shares in the company, valued at approximately $71,028.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sean Kiewiet sold 4,954 shares of Priority Technology stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.41, for a total value of $26,801.14. Following the completion of the transaction, the insider now owns 1,085,158 shares of the company’s stock, valued at $5,870,704.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,395 shares of company stock worth $529,410. 76.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Pekin Hardy Strauss Inc. purchased a new position in Priority Technology during the second quarter valued at approximately $301,000. Renaissance Technologies LLC bought a new position in Priority Technology in the 2nd quarter valued at $202,000. Williams & Novak LLC purchased a new position in shares of Priority Technology during the 2nd quarter valued at $77,000. Virtu Financial LLC purchased a new position in shares of Priority Technology during the 1st quarter valued at $50,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Priority Technology in the 1st quarter worth about $164,000. 11.52% of the stock is owned by hedge funds and other 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.