Priority Technology (NASDAQ:PRTH) Hits New 1-Year High – What’s Next?

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.02 and last traded at $8.97, with a volume of 67977 shares trading hands. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PRTH shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 price objective (up from $5.00) on shares of Priority Technology in a research note on Friday, November 8th. B. Riley raised their price target on Priority Technology from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd.

Priority Technology Trading Down 2.5 %

The business’s 50-day simple moving average is $6.55 and its 200 day simple moving average is $5.44.

Insider Activity at Priority Technology

In other Priority Technology news, CAO Rajiv Kumar sold 10,000 shares of the 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 sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at approximately $71,028.31. This represents a 46.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Charles Priore sold 16,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $5.08, for a total transaction of $81,280.00. Following the sale, the chief executive officer now directly owns 34,301,608 shares of the company’s stock, valued at $174,252,168.64. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,302 shares of company stock valued at $367,781 over the last ninety days. 76.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Priority Technology in the first quarter worth about $50,000. Williams & Novak LLC purchased a new stake in Priority Technology during the 2nd quarter worth approximately $77,000. State Board of Administration of Florida Retirement System acquired a new position in Priority Technology during the 1st quarter valued at approximately $91,000. BNP Paribas Financial Markets raised its holdings in shares of Priority Technology by 61.7% in the third 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Priority Technology during the third quarter worth $112,000. 11.52% of the stock is owned by institutional investors and hedge funds.

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.