Priority Technology (NASDAQ:PRTH) Sees Large Volume Increase – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw an uptick in trading volume on Monday . 88,203 shares were traded during mid-day trading, an increase of 0% from the previous session’s volume of 88,182 shares.The stock last traded at $10.70 and had previously closed at $11.02.

Analyst Ratings Changes

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

Priority Technology Stock Performance

The stock has a fifty day simple moving average of $8.22 and a 200 day simple moving average of $6.51. The firm has a market cap of $903.22 million, a P/E ratio of -27.86 and a beta of 1.20.

Insider Activity

In other Priority Technology news, insider Sean Kiewiet sold 21,286 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $9.68, for a total transaction of $206,048.48. Following the completion of the sale, the insider now directly owns 888,608 shares of the company’s stock, valued at $8,601,725.44. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 76,766 shares of company stock valued at $656,166 in the last ninety days. 76.30% of the stock is currently owned by company insiders.

Institutional Trading of Priority Technology

Hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Priority Technology during the 3rd quarter valued at $91,000. BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 6,096 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Priority Technology during the third quarter valued at about $112,000. Jane Street Group LLC grew its holdings in shares of Priority Technology by 6.1% during the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after buying an additional 1,293 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 valued at $178,000 after buying an additional 18,741 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company’s stock.

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.