Keefe, Bruyette & Woods Upgrades Priority Technology (NASDAQ:PRTH) to Outperform

Keefe, Bruyette & Woods upgraded shares of Priority Technology (NASDAQ:PRTH) from a market perform rating to an outperform rating in a report published on Thursday morning, Marketbeat reports. Keefe, Bruyette & Woods currently has $14.00 price objective on the stock, up from their previous price objective of $10.00.

PRTH has been the subject of several other reports. B. Riley raised their price objective on Priority Technology from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Lake Street Capital lifted their price objective 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.

Priority Technology Stock Up 2.8 %

PRTH stock opened at $8.90 on Thursday. The stock has a market capitalization of $687.08 million, a PE ratio of -21.19 and a beta of 1.17. Priority Technology has a 52 week low of $2.82 and a 52 week high of $12.44. The firm has a 50 day moving average of $9.70 and a 200 day moving average of $7.11.

Insider Buying and Selling

In related news, insider Sean Kiewiet sold 22,178 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $10.01, for a total value of $222,001.78. Following the completion of the sale, the insider now owns 1,009,675 shares of the company’s stock, valued at approximately $10,106,846.75. The trade was a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 231,215 shares of company stock valued at $2,360,486. Corporate insiders own 76.30% of the company’s stock.

Institutional Investors Weigh In On Priority Technology

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Priority Technology in the 2nd quarter valued at $202,000. Rebalance LLC acquired a new stake in shares of Priority Technology in the third quarter valued at about $4,822,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Priority Technology during the 3rd quarter valued at about $112,000. Charles Schwab Investment Management Inc. raised its holdings in Priority Technology by 15.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 56,557 shares of the company’s stock valued at $386,000 after acquiring an additional 7,719 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its stake in Priority Technology by 17.0% in the 3rd 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 in the last quarter. 11.52% of the stock is currently owned by institutional investors and hedge funds.

About Priority Technology

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.