Priority Technology (NASDAQ:PRTH) Price Target Raised to $13.00 at Lake Street Capital

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

Several other research firms have also weighed in on PRTH. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $9.00 target price (up from $5.00) on shares of Priority Technology in a report on Friday, November 8th. B. Riley lifted their price objective on shares of Priority Technology from $11.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 23rd.

Priority Technology Stock Down 4.0 %

Priority Technology stock opened at $8.02 on Friday. The firm has a market cap of $618.87 million, a price-to-earnings ratio of -19.10 and a beta of 1.01. Priority Technology has a 52 week low of $2.79 and a 52 week high of $9.25. The business’s 50-day moving average price is $6.63 and its 200 day moving average price is $5.52.

Insider Activity at Priority Technology

In other Priority Technology news, insider Sean Kiewiet sold 4,954 shares of the stock in a transaction 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 transaction, the insider now directly owns 1,085,158 shares of the company’s stock, valued at $5,870,704.78. This trade represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rajiv Kumar sold 10,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.13, for a total transaction of $61,300.00. Following the sale, the chief accounting officer now directly owns 11,587 shares of the company’s stock, valued at $71,028.31. This represents a 46.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,302 shares of company stock valued at $286,501. 76.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Priority Technology

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Priority Technology during the third quarter worth approximately $91,000. Williams & Novak LLC acquired a new stake in Priority Technology during the 2nd quarter worth $77,000. BNP Paribas Financial Markets grew its holdings in shares of Priority Technology by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 15,983 shares of the company’s stock worth $109,000 after buying an additional 6,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Priority Technology in the third quarter valued at about $112,000. Finally, Jane Street Group LLC lifted its stake in shares of Priority Technology by 6.1% in the third quarter. Jane Street Group LLC now owns 22,347 shares of the company’s stock worth $153,000 after buying an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

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.