Priority Technology (NASDAQ:PRTH) Reaches New 1-Year High After Analyst Upgrade

Priority Technology Holdings, Inc. (NASDAQ:PRTH)’s share price reached a new 52-week high during mid-day trading on Tuesday after B. Riley raised their price target on the stock from $11.00 to $13.00. B. Riley currently has a buy rating on the stock. Priority Technology traded as high as $7.00 and last traded at $6.97, with a volume of 35672 shares changing hands. The stock had previously closed at $6.85.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Priority Technology from $4.50 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 9th.

Insider Buying and Selling

In related news, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total value of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now owns 11,587 shares in the company, valued at $71,028.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sean Kiewiet sold 4,954 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.41, for a total transaction of $26,801.14. Following the sale, the insider now owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. The disclosure for this sale can be found here. Insiders have sold 100,395 shares of company stock worth $529,410 in the last ninety days. 76.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Priority Technology

Large investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in Priority Technology during the first quarter valued at approximately $50,000. Williams & Novak LLC purchased a new position in Priority Technology during the second quarter valued at approximately $77,000. State Board of Administration of Florida Retirement System purchased a new position in Priority Technology during the first quarter valued at approximately $91,000. Jacobs Levy Equity Management Inc. purchased a new position in Priority Technology during the first quarter valued at approximately $164,000. Finally, Renaissance Technologies LLC purchased a new position in Priority Technology during the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Priority Technology Stock Up 1.6 %

The stock’s 50-day moving average is $5.58 and its 200 day moving average is $4.46. The stock has a market capitalization of $557.25 million, a PE ratio of -11.81 and a beta of 0.97.

Priority Technology (NASDAQ:PRTH) last posted its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter. The business had revenue of $219.87 million during the quarter. Priority Technology had a negative return on equity of 9.60% and a net margin of 0.74%.

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.