Lake Street Capital Issues Positive Forecast for Priority Technology (NASDAQ:PRTH) Stock Price

Priority Technology (NASDAQ:PRTH) had its price target upped by Lake Street Capital from $8.00 to $13.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently commented on PRTH. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $9.00 target price (up previously from $5.00) on shares of Priority Technology in a report on Friday, November 8th. B. Riley boosted their price target on shares of 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 Stock Up 9.0 %

NASDAQ:PRTH opened at $8.74 on Friday. The business’s 50-day simple moving average is $6.68 and its two-hundred day simple moving average is $5.56. Priority Technology has a 52 week low of $2.79 and a 52 week high of $9.85. The stock has a market cap of $674.47 million, a PE ratio of -20.81 and a beta of 1.01.

Insider Buying and Selling

In other news, insider Sean Kiewiet sold 4,954 shares of Priority Technology stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.41, for a total value of $26,801.14. Following the completion of the transaction, the insider now owns 1,085,158 shares in the company, valued at approximately $5,870,704.78. The trade was a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief accounting officer now directly owns 11,587 shares in the company, valued at approximately $71,028.31. This represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,302 shares of company stock worth $286,501. Insiders own 76.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRTH. Jane Street Group LLC lifted its holdings in shares of 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 during the last quarter. BNP Paribas Financial Markets raised its position in Priority Technology by 61.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after purchasing an additional 6,096 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Priority Technology by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock worth $386,000 after purchasing an additional 7,719 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its stake in Priority Technology by 17.0% in the third quarter. Pekin Hardy Strauss Inc. now owns 66,675 shares of the company’s stock worth $455,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Corsair Capital Management L.P. boosted its position in shares of Priority Technology by 10.5% during the third 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. 11.52% of the stock is owned by hedge funds and other institutional investors.

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.