Lake Street Capital Raises Priority Technology (NASDAQ:PRTH) Price Target to $13.00

Priority Technology (NASDAQ:PRTH) had its price objective increased by equities researchers at Lake Street Capital from $8.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Lake Street Capital’s price objective suggests a potential upside of 62.09% from the stock’s current price.

Other equities analysts also recently issued reports about the company. B. Riley raised their price objective on Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $9.00 price target (up previously from $5.00) on shares of Priority Technology in a research report on Friday, November 8th.

Priority Technology Trading Down 4.0 %

Shares of Priority Technology stock opened at $8.02 on Friday. The company has a 50-day moving average of $6.63 and a two-hundred day moving average of $5.51. Priority Technology has a 12-month low of $2.79 and a 12-month high of $9.25. The stock has a market cap of $618.87 million, a PE ratio of -19.10 and a beta of 1.01.

Insider Transactions at Priority Technology

In related news, insider Sean Kiewiet sold 5,700 shares of Priority Technology stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the completion of the sale, the insider now owns 1,055,158 shares in the company, valued at approximately $5,391,857.38. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the completion of the transaction, the chief accounting officer now owns 11,587 shares in the company, valued at approximately $71,028.31. This trade represents a 46.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,302 shares of company stock valued at $286,501 over the last three months. 76.30% of the stock is currently owned by insiders.

Institutional Trading of Priority Technology

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in Priority Technology by 6.1% in the 3rd quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock valued at $153,000 after acquiring an additional 1,293 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Priority Technology by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock valued at $109,000 after purchasing an additional 6,096 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Priority Technology by 15.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after buying an additional 7,719 shares during the period. Pekin Hardy Strauss Inc. boosted its stake 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 during the last quarter. Finally, Corsair Capital Management L.P. grew its holdings in Priority Technology by 10.5% in the 3rd quarter. Corsair Capital Management L.P. now owns 105,458 shares of the company’s stock valued at $720,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds 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.