Priority Technology (NASDAQ:PRTH) Sees Large Volume Increase – Still a Buy?

Priority Technology Holdings, Inc. (NASDAQ:PRTH) shares saw unusually-high trading volume on Monday . Approximately 165,775 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 216,467 shares.The stock last traded at $6.92 and had previously closed at $7.66.

Analyst Upgrades and Downgrades

PRTH has been the topic of a number of research analyst reports. Lake Street Capital raised their target price on shares of Priority Technology from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. B. Riley raised their target price on shares of Priority Technology from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $12.00 price target (down from $14.00) on shares of Priority Technology in a report on Friday, March 7th.

Priority Technology Trading Up 2.2 %

The business’s fifty day simple moving average is $10.10 and its two-hundred day simple moving average is $8.37. The stock has a market capitalization of $565.09 million, a P/E ratio of -17.43 and a beta of 0.99.

Insider Transactions at Priority Technology

In other news, CEO Thomas Charles Priore sold 105,833 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.44, for a total transaction of $787,397.52. Following the completion of the transaction, the chief executive officer now directly owns 33,919,486 shares of the company’s stock, valued at approximately $252,360,975.84. This trade represents a 0.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean Kiewiet sold 170,596 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $10.60, for a total transaction of $1,808,317.60. Following the transaction, the insider now directly owns 711,853 shares of the company’s stock, valued at $7,545,641.80. The trade was a 19.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,293,127 shares of company stock valued at $39,920,204. Company insiders own 76.30% of the company’s stock.

Hedge Funds Weigh In On Priority Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI bought a new position in shares of Priority Technology during the 4th quarter worth about $56,000. Deutsche Bank AG acquired a new stake in shares of Priority Technology during the 4th quarter worth about $60,000. Virtu Financial LLC acquired a new stake in shares of Priority Technology during the 3rd quarter worth about $91,000. SG Americas Securities LLC acquired a new stake in shares of Priority Technology during the 4th quarter worth about $100,000. Finally, Wells Fargo & Company MN increased its position in shares of Priority Technology by 53.8% during the 4th quarter. Wells Fargo & Company MN now owns 8,593 shares of the company’s stock worth $101,000 after purchasing an additional 3,006 shares in the last quarter. 11.52% of the stock is owned by 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.