Priority Technology (NASDAQ:PRTH) Hits New 12-Month High – Time to Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $12.32 and last traded at $12.26, with a volume of 116011 shares traded. The stock had previously closed at $11.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRTH. B. Riley upped 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 raised their target price on shares of Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Finally, Lake Street Capital increased their price target 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 Stock Up 5.5 %

The company has a 50-day moving average price of $8.22 and a 200-day moving average price of $6.51. The firm has a market capitalization of $935.64 million, a price-to-earnings ratio of -28.86 and a beta of 1.20.

Insider Activity

In related news, insider Sean Kiewiet sold 4,483 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was 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 SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 235,698 shares of company stock valued at $2,387,384. Company insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Priority Technology in the 3rd quarter worth approximately $91,000. BNP Paribas Financial Markets lifted its position in shares of Priority Technology by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after acquiring an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Priority Technology in the 3rd quarter worth $112,000. Jane Street Group LLC lifted 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 purchasing an additional 1,293 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after purchasing an additional 18,741 shares during the period. 11.52% of the stock is owned by institutional investors and hedge funds.

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.