Priority Technology (NASDAQ:PRTH) Sees Strong Trading Volume – Here’s Why

Priority Technology Holdings, Inc. (NASDAQ:PRTH) saw strong trading volume on Monday . 88,203 shares traded hands 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.

Wall Street Analyst Weigh In

PRTH has been the topic of several recent analyst reports. Lake Street Capital increased their target price on Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods increased their price objective on Priority Technology from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Friday, November 22nd. Finally, B. Riley boosted their target price on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, November 25th.

Priority Technology Stock Performance

The stock has a market capitalization of $907.08 million, a P/E ratio of -27.98 and a beta of 1.20. The firm has a fifty day moving average price of $8.45 and a two-hundred day moving average price of $6.62.

Insider Buying and Selling at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 170,596 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the completion of the sale, the insider now directly owns 711,853 shares of the company’s stock, valued at approximately $7,545,641.80. This represents a 19.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 235,698 shares of company stock valued at $2,387,384. 76.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Priority Technology

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in Priority Technology during the third quarter valued at $91,000. BNP Paribas Financial Markets raised its stake 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 period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Priority Technology during the 3rd quarter valued at about $112,000. Jane Street Group LLC increased 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 worth $153,000 after acquiring an additional 1,293 shares in the last quarter. Finally, Barclays PLC increased its holdings in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock worth $178,000 after acquiring an additional 18,741 shares in the last quarter. 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.