Priority Technology (NASDAQ:PRTH) Shares Down 3.9% – What’s Next?

Shares of Priority Technology Holdings, Inc. (NASDAQ:PRTH) fell 3.9% during trading on Friday . The stock traded as low as $8.17 and last traded at $8.30. 42,968 shares were traded during trading, a decline of 46% from the average session volume of 79,408 shares. The stock had previously closed at $8.64.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Lake Street Capital boosted their price objective on shares of Priority Technology from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods upped their price target on Priority Technology from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Friday, November 22nd. Finally, B. Riley raised their price objective on shares of Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th.

Priority Technology Stock Up 1.6 %

The business has a 50-day moving average of $7.74 and a two-hundred day moving average of $6.23. The firm has a market capitalization of $677.80 million, a price-to-earnings ratio of -20.90 and a beta of 1.20.

Insider Buying and Selling at Priority Technology

In other news, insider Sean Kiewiet sold 4,483 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $6.00, for a total transaction of $26,898.00. Following the completion of the sale, the insider now owns 1,065,158 shares of the company’s stock, valued at approximately $6,390,948. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 76,766 shares of company stock valued at $656,166. 76.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Priority Technology

A number of large investors have recently bought and sold shares of PRTH. Virtu Financial LLC bought a new position in Priority Technology in the 3rd quarter valued at $91,000. BNP Paribas Financial Markets raised its holdings 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 valued at $109,000 after buying an additional 6,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Priority Technology during the 3rd quarter worth about $112,000. Jane Street Group LLC grew its holdings in Priority Technology by 6.1% during 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. Finally, Barclays PLC increased its position in Priority Technology by 255.9% in the 3rd quarter. Barclays PLC now owns 26,064 shares of the company’s stock valued at $178,000 after acquiring an additional 18,741 shares in the last quarter. 11.52% of the stock is currently 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.