Priority Technology (NASDAQ:PRTH) Shares Down 4.9% – Should You Sell?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) was down 4.9% on Friday . The stock traded as low as $9.30 and last traded at $9.57. Approximately 114,946 shares were traded during trading, an increase of 75% from the average daily volume of 65,767 shares. The stock had previously closed at $10.06.

Analysts Set New Price Targets

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

Priority Technology Stock Performance

The firm has a market capitalization of $717.68 million, a P/E ratio of -22.14 and a beta of 1.01. The company has a 50-day moving average price of $6.89 and a 200-day moving average price of $5.66.

Insider Activity

In other news, insider Sean Kiewiet sold 5,700 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $5.11, for a total transaction of $29,127.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rajiv Kumar sold 10,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.13, for a total value of $61,300.00. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 48,302 shares of company stock worth $286,501 over the last three months. Corporate insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Priority Technology by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 762,631 shares of the company’s stock valued at $2,494,000 after purchasing an additional 156,044 shares in the last quarter. Rebalance LLC acquired a new stake in shares of Priority Technology during the 3rd quarter valued at $4,822,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Priority Technology during the 1st quarter valued at $164,000. Renaissance Technologies LLC acquired a new stake in shares of Priority Technology during the 2nd quarter valued at $202,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Priority Technology during the 1st quarter valued at $91,000. Institutional investors and hedge funds 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.